Better Money: Gold, Fiat, or Bitcoin?

Description

The recent rise of dollar, pound, and euro inflation rates has rekindled the debate over potential alternative monies, particularly gold and Bitcoin. Though Bitcoin has been much discussed in recent years, a basic understanding of how it and gold would work as monetary standards is rare. Accessibly written by a pioneering economist, Better Money explains and evaluates gold, fiat, and Bitcoin standards without hype. White uses simple supply-and-demand analysis to explain how these standards work, evaluating their relative merits and explaining their response to shocks, allowing for informed comparisons between them. This book addresses common misunderstandings of the gold standard and Bitcoin, using historical evidence to review the history of money with emphasis on the contest between market and government provision. Known for his work on alternative monetary institutions, White offers a reasoned discussion of which standard is most likely to provide a better money. 01.0_pp_i_ii_Better_Money 02.0_pp_iii_iii_Better_Money 03.0_pp_iv_iv_Copyright_page 04.0_pp_v_vi_Dedication 05.0_pp_vii_viii_Contents 06.0_pp_ix_x_Figures 07.0_pp_xi_xii_Acknowledgments 08.0_pp_1_5_Introduction 09.0_pp_6_38_Markets_and_Governments_in_the_History_of_Money 10.0_pp_39_75_How_a_Gold_Standard_Works 11.0_pp_76_120_Common_Misconceptions_about_the_Gold_Standard 12.0_pp_121_152_How_a_Fiat_Standard_Works 13.0_pp_153_190_How_a_Bitcoin_Standard_Works 14.0_pp_191_212_Comparing_and_Contrasting_Gold_and_Bitcoin_Standards 15.0_pp_213_232_References 16.0_pp_233_236_Index