Con to the question "Should the United States Return to a Gold Standard?"
"The United States should avoid anything that remotely resembles a gold standard. Fixing the exchange rate against gold diverts the focus of monetary policy away from ensuring domestic economic stability to maintaining an arbitrary exchange-rate target. That is the wrong approach when the economy is still suffering from the aftermath of the recent financial crisis.
The Federal Reserve should be free to take whatever actions it feels necessary to promote economic growth and ensure stable prices without having to worry about the exchange rate. If the dollar depreciates against other currencies and other countries do not like it, so be it...
The United States should remain committed to a flexible, market-determined exchange rate regime to ensure its monetary independence and prevent the outbreak of damaging and counter-productive protectionism."
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:
John Sloan Dickey Third Century Professor in the Social Sciences, Dartmouth College, 2012-present
Board of Advisors, Center for Trade Policy Studies, Cato Institute, 1999-present
Research Associate, National Bureau of Economic Research, 1997-present
Visiting Professor, Leitner Program in International and Comparative Political Economy, Macmillan Center, Yale University, Sep.-Oct. 2011
Robert E. Maxwell ’23 Professor of Arts and Sciences, Dartmouth College, 2005-2012
Professor of Economics, Dartmouth College, 1997-2005
Chairman, Department of Economics, Dartmouth College, 2002-2004
Visiting Scholar, Research Department, International Monetary Fund, 1993, 2001, 2004
Associate Professor of Business Economics, Graduate School of Business, University of Chicago, 1994-1997
George J. Stigler Center for the Study of the Economy and the State, University of Chicago, 1992-1997
Henry C. Wendt Scholar in Political Economy, American Enterprise Institute, 1995-1996
Junior Research Fellow, Institute for Policy Reform, 1992-1995
Assistant Professor of Business Economics, Graduate School of Business, University of Chicago, 1991-1994
Economist, Division of International Finance, Board of Governors of the Federal Reserve System, 1988-1991
Junior Staff Economist, Council of Economic Advisers, Executive Office of the President, 1986-1987