The Gold Standard is a Yardstick

If you saved a dollar in 1971, it now has 15-20 cents of purchasing power. Shouldn't it maintain the purchase value of a dollar? Compare our monetary system to a yardstick, a standard unit of measure. If the Federal Reserve board changed the value of a yardstick from 36 inches to 32 inches next month, and then to 38 inches a year from now, would Americans feel that is fair?


Kathleen M. Packard, Publisher
Ralph J. Benko, Editor

In Memoriam
Professor Jacques Rueff

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