A place for connecting economic news and theory to the practice of teaching economics
Showing posts with label gold. Show all posts
Showing posts with label gold. Show all posts
Monday, May 30, 2011
Monetary Step Backward?
The New York Times has a good article about people in Utah pushing the state to adopt a law that would make it easier for people to buy things with gold and silver coins (based on the value of their weight). This is a Tea Party idea and it seems as if they want to push the idea of allowing states to coin their own money. There are a lot of ways to attack this, but it should be sufficient to say that the idea is a big step backwards and shows just how out of touch the Tea Partiers are with basic economics.
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