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Gold Standard Now Gives Schuler Mad Props

Posted By Bradley Jansen On February 7, 2014 @ 1:26 pm In Uncategorized | 4 Comments

Our friend and colleague Ralph Benko gave freebanking.org blogger Kurt Schuler mad props (do the kids still say that?) over on the Gold Standard Now site [1] "Lenin on Keynes: "more striking ... than any ... Communist revolutionary."  He raises the question, was this quotation attributed to Lenin authentic or apocryphal, “the best way to destroy the capitalist system [is] to debauch the currency.”  He continues to label Kurt and his coauthor Michael V. White "two eminent monetary scholars" and goes to them for the answer.


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4 Comments To "Gold Standard Now Gives Schuler Mad Props"

#1 Comment By George Selgin On February 7, 2014 @ 11:44 pm

Frank W. Fetter wrote about this some years ago. If I recall correctly, he could not locate the quote in any of Lenin's writings.

I have another one for Kurt and Mike, if they're game. I recall seeing a quote from Keynes himself, said in response to the Fed's decision to double reserve requirements in 1936-7 so as to avoid an outbreak of inflation. "They profess to fear," Keynes quipped, "that for which they dared not hope."

For the life of me I can no longer find that quotation's source.

#2 Comment By Mike Sproul On February 8, 2014 @ 9:43 pm

George:

I can't find the "dared not hope" quotation, but the link below gives a good source for the Lenin quote.

[2]

#3 Comment By Mike Sproul On February 8, 2014 @ 9:45 pm

(Mad props to Kurt, by the way.)

#4 Comment By George Selgin On February 11, 2014 @ 12:11 am

Yes, of course I know that Kurt and Mike found the source; my point was that the fact that Kurt and Mike found it even though Fetter (a very good historian of monetary thought) couldn't is very impressive indeed.


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URL to article: http://www.freebanking.org/2014/02/07/gold-standard-now-gives-schuler-mad-props/

URLs in this post:

[1] site: http://thegoldstandardnow.org/key-blogs-6/2485-did-lenin-really-say-that

[2] : http://www.aeaweb.org/articles.php?doi=10.1257/jep.23.2.213

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