Source: Libertarian Institute
by Joseph Solis-Mullen
“For more than half a century, the global economy has operated under a monetary system divorced from gold. The 1971 collapse of the Bretton Woods system, where the U.S. dollar’s convertibility to gold was suspended, ushered in the fiat money era, a regime in which paper currencies are backed by nothing but government decree. Economist Murray Rothbard, in What Has Government Done to Our Money?, particularly in the chapter ‘The Monetary Breakdown of the West,’ details how this transition has distorted economic incentives, weakened the real economy, and fueled financial speculation at the expense of productive investment. Today, as inflation erodes purchasing power, debt levels spiral out of control, and economic instability grows, Rothbard’s warnings appear more prescient than ever.” (02/12/25)
https://libertarianinstitute.org/articles/how-to-reverse-the-monetary-breakdown-of-the-west