Live After Quit

Could Gold Discoveries Cause the Austrian Boom-Bust Cycle?

In a 2019 article, Bob quoted Mises who believed that new gold discoveries, in principle, could cause a (small) boom-bust cycle if the gold hit the loan market before other sectors. Walter Block and Bill Barnett have responded in a new article, arguing that in a free market, new commodity money can’t cause such distortions.

Mentioned in the Episode and Other Links of Interest:

For more information, see The Bob Murphy Show is also available on iTunes, Stitcher, Spotify, and via RSS.