Thursday, June 12, 2008

Gene Epstein on Gold, the Fed, and Money

EconTalk recently interviewed Barron's economic editor, Gene Epstein, for a podcast entitled, "Gene Epstein on Gold, the Fed, and Money".

In this interview, Epstein argues in favor of a gold standard money system and privately issued currency. He feels this sound money system would lead to greater price stability and help reduce the impact of economic recessions.

If you are a Barron's reader, you're probably familiar with Epstein's column and style. From what I have read in his columns and book reviews, I'd say Epstein has a writing style and philosophy that is mainstream enough to suit most Barron's readers, while also exhibiting some influence of the lesser-known Austrian School of economics.

Given Epstein's Austrian leanings, it should be no surprise to hear his position in favor of the gold standard and privately issued money. In fact, Epstein recently pointed to Alan Greenspan's past defense of the gold standard as a strong argument for a sound money system based on gold.

For those who would like to hear more on this subject, check out Allan Meltzer's recent EconTalk interview, "Meltzer on the Fed, Money, and Gold", as well.

Enjoy the interviews, and the debate.