Pro to the question "Should the United States Return to a Gold Standard?"
"Gold, a fundamental, metallic element of the earth’s constitution, exhibits unique properties that enabled it, during two millennia of market testing, to emerge as a universally accepted store of value and medium of exchange, not least because it could sustain purchasing power over the long run against a standard assortment of goods and services...
To choose or to reject the true gold standard is to decide between two fundamental options: on the one hand, a free, just, stable, and objective monetary order; and on the other, manipulated, inconvertible paper money, the fundamental cause of a casino culture of speculation and crony capitalism, and the incipient financial anarchy and inequality it engenders.
Restoration of a dollar convertible to gold would rebuild a necessary financial incentive for real, long-term, economic growth by encouraging saving, investment, entrepreneurial innovation, and capital allocation in productive facilities...
In a free market and its banking system, grounded by the rule of convertibility to gold, new money and credit may be prudently issued only against new production or additional supply for the market, thus maintaining equilibrium between total demand and total supply. Inflation is thereby ruled out."
Experts Individuals with PhDs, heads of government, members of federal legislative bodies, and individuals with graduate degrees and significant post-graduate involvement in fields relevant to the study of economics [Note: Experts definition varies by site.]
Involvement and Affiliations:
Chairman and Founder, Lehrman Institute, 1972-present
Senior Partner, L. E. Lehrman & Co.
Chairman, The Gold Standard Now
Trustee, New-York Historical Society
Member, Advisory board of the Gold Standard 2012 initiative, American Principles Project
Recipient, William E. Simon Prize for Lifetime Achievement in Social Entrepreneurship, 2010
Recipient, National Humanities Medal, 2005
Former Board Member, Project for a New American Century (PNAC)
Former Trustee, American Enterprise Institute, NAACP Legal Defense Fund, Manhattan Institute, Morgan Library, and the Heritage Foundation
Former Managing Director, Morgan Stanley & Company
Co-founder, Gilder Lehrman Insitutue of American History
Co-founder, Gilder Lehrman Center for the Study of Slavery, Resistance and Abolition, Yale University
Co-founder, Lincoln Prize, Gettysburg College
Former Chairman, Citizens for America
Candidate for Governor of New York, 1982
Member, United States Gold Commission, 1981-1982
President, Rite Aid Corporation, 1968-1977
Former Chairman, Committee on Humanities, Yale University Council
MA, History, Woodrow Wilson Fellow, Harvard University