Unlike our distinction between a gold standard established and enforced by customary law and one established or enforced by means of legislation, Friedman's distinction between real and pseudo gold standards refers not to any difference in their legal foundations but only to the different forms of money involved in each.
It is for this reason that I regard the distinction between a gold standard resting on private contracts and one resting on statute law to be of more fundamental importance than Friedman's distinction between real and pseudo gold standards.
Isn't it perplexing that people who advocate a return to the gold standard are often against big government and supposedly pro-market?
It is that between a gold standard founded on custom-based or "private" law, and one resting upon statute or "public" law, that is, on government legislation.
But before I can do so I must first review the difference between custom-based law and legislation, and then show how the development and flourishing of the historical gold standard depended more on the former than the latter.
Cleveland House in Edgerton and Southfield Court in Almondbury both received the new gold standard.
The gold standard programme is backed by NHS Kirklees, formerly the Kirklees Primary Care Trust, which is responsible for all health services delivered in the local community.
Little has been written beyond academic histories of the gold standard, but gold standard expert Paul Nathan fills that void for the first time
Written for beginning and professional investors, the book provides guidance on how a gold standard will strengthen the dollar, reduce debt, and help stabilize the economy, offering easily applied strategies for investing in gold now and in the future
As inflation creeps up, more and more talk will turn to returning to some version of the gold standard, and The New Gold Standard is the first major work to explicitly address the challenges and benefits of such a move.
Gold Standards Are "Words to Live By" For Employees of
With more than 26,000 employees at 54 Ritz-Carlton hotels and resorts around the world, the company's Gold Standards are known in languages from Balinese to Arabic.
All of these Gold Standards are reinforced not only when a hotel readies for opening, but on a regular basis at "Line Up," a morning meeting where a "Basic of the Day" is reviewed and discussed.