In replying to a previous article by Frank Shostak, Douglas French writes that if an increase in the supply of gold ultimately leads to an expansion of bank credit, that is enough to start the boom-and-bust cycles, even if there is no central bank to accelerate the process.
You May Also Like
Tech News
Image: Samar Haddad / The Verge Ge Wang doesn’t use computers to make music the way most people use computers make music. He uses...
Editor's Pick
Jeffrey A. Singer In a September blog post, I discussed the encouraging news from the National Center for Health Statistics (NCHS) that drug overdose...
Tech News
Image: The Verge Telegram is pushing a new 2.0 update for its in-app “mini-apps” that allows them to run full screen, enables developers to...
Tech News
Illustration by Kristen Radtke / The Verge; Getty Images Elon Musk’s X may have tweaked its algorithm to boost his account, along with those...