Gold Standard V.S. Fiat Currency

Please go into detail about which type of currency is most efficient, especially for a future socialist economy. If you can, please discuss why or why not Libya could have gone in the direction Gaddafi envisioned with his new African currency. Thank you.


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  • commented 2017-12-09 16:48:59 -0500
    I’ve just seen that BRICS is moving towards creating a gold-backed currency (or currencies). How would this affect the dollar? It’s interesting to note that three of the main gold producing countries are members of BRICS.
  • tagged this with upvote 2017-12-09 16:48:59 -0500
  • published this page in Ask Prof. Wolff 2017-12-07 12:54:05 -0500

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