Last updated on: 2/11/2013 | Author: ProCon.org

Lewis E. Lehrman, MA Biography

Title:
Chairman of the Lehrman Institute
Position:
Pro to the question "Should the United States Return to a Gold Standard?"
Reasoning:

“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.”

“A Road to Prosperity,” spectator.org, Oct. 2012

Theoretical Expertise Ranking:
Experts
Individuals with PhDs or equivalent advanced degrees in fields relevant to the gold standard. Also top-level government officials (such as foreign leaders, US presidents, Founding Fathers, Supreme Court Justices, members of legislative bodies, cabinet members, military leaders, etc.) with positions relevant to the gold standard.
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
  • Education:
  • MA, History, Woodrow Wilson Fellow, Harvard University
  • BA, History, Carnegie Teaching Fellow, Yale University, 1960
  • Other:
  • Born in Harrisburg, PA, Aug. 15, 1938
  • He has been awarded honorary degrees from Babson College, Gettysburg College, Lincoln College, Marymount University, and Thomas Aquinas College
  • Quoted in:
    Pro & Con Quotes: Should the United States Return to a Gold Standard?