Pining in a gold cage

December 10 2013

Keynes buoyant as Britain comes off the gold standard after the financial crisis of 1931. It had come off it in 1914 (when Lloyd George was Chancellor), but returned in 1925 (when Churchill was Chancellor). In 2013, no countries use a gold standard.

YouTube:

Friedrich Hayek on Keynes

Milton Friedman on Keynes

Harold Wilson and the 1967 devaluation: his metaphor is not cage but straitjacket.

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