Last updated on: 7/2/2013 | Author: ProCon.org

Ralph J. Benko, JD Biography

Title:
Senior Economic Advisor at American Principles in Action and Editor and Advisor to the Lehrman Institute's GoldStandardNow.org
Position:
Pro to the question "Should the United States Return to a Gold Standard?"
Reasoning:

“Monetary policy reform is a rapidly rising issue. ‘Good money’ is important for generating a climate of equitable prosperity. The empirical data show the classical gold standard to be the ‘gold standard’ of monetary policy. The Bank of England, in 2011, issued Financial Stability Paper No. 13. The Bank of England found that the fiduciary dollar standard badly underperforms in every major category, including economic growth, inflation, recessions, and banking crises.

Some still labor under the mistaken impression that the gold standard is a recipe for austerity and caused the Great Depression. This ignores the fact that there was no gold standard in 1929!

The classical gold standard was invented by two icons of science: Copernicus and Newton. Their work in astronomy and physics still stands the test of time. So does their monetary work. There is abundant evidence that attaining 4% growth, generating millions of new and better jobs as well as expanding the tax base and bringing in trillions of dollars of new revenue with which to balance the federal budget, can best, perhaps only, be achieved by adopting a 21st century gold standard.

Time for a fresh look at gold.”

Email to ProCon.org on Mar. 18, 2013

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:
  • Senior Economic Advisor, American Principles in Action
  • Contributor, Forbes
  • Advisor and Editor, TheGoldStandardNow.org
  • Founding Director, Samaritan Medal Foundation
  • Former principal community organizer, Operation Rescue and Restore, United States Department of Health and Human Services
  • Former Judge, Templeton Freedom Awards for Innovative Media, Atlas Economic Research Foundation
  • Former Attorney and Advisor, United States Department of Energy
  • Former Chairman, New York’s 23rd Congressional District Chapter, Citizens for America
  • Former White House Deputy General Counsel, Ronald Reagan Administration
  • Founder, The Prosperity Caucus, 1986
  • Testified at the United States Gold Commission, 1981
  • Education:
  • JD, Boston University Law School, 1979
  • BA, Amherst College, 1974
  • Other:
  • Born in New York, NY, 1952
  • His articles have been published by The Washington Examiner, Parcbench.com, NationalInterest.com, RollCall.com, ConservativeHQ, Foxnews.com, Townhall.com, DailyCaller.com, and AmericanThinker.com.
  • Quoted in:
    Pro & Con Quotes: Should the United States Return to a Gold Standard?