Why Republicans Still Love the Gold Standard

History Professor Eric Rauchway publishes an op-ed in The New York Times.

In Tuesday’s Republican presidential debate, Senator Ted Cruz reintroduced an idea that had many viewers scratching their heads and nearly all economists pulling out their hair. Mr. Cruz advocated a return to the gold standard — that is, tying the value of a dollar to a set amount of gold — because, he said, it produced prosperity under the Bretton Woods system and it helped “workingmen and -women.”

 

Read the full story in The New York Times.