WSJ Editorial Arguing For a Gold Standard
The WSJ has a generally good article proposing to restore the gold standard. I am of course in favor of that idea, but would quibble at some of the arguments used in the article. For example, I really wish it were true that: "If capitalism is to be preserved, it can't be through the con game of diluting the value of money. People see through such tactics; they recognize the signs of impending inflation." (emphasis added).
I also disagree with the idea that "the driving force of free-market capitalism is competition", rather the driving force is freedom (which is protected by the establishment of individual rights).
But I am on board with the more specific arguments, e.g. that there is nothing inherently wrong with price deflation, and that a "grass-roots" movement, in which gold is used as a parallel currency may end up being what ultimately accounts for gold becoming the de facto national currency.