During its heyday the international gold standard ushered in an era of growing personal freedom and expectations of continued material progress, agreed economists as diverse as John Maynard Keynes and Benjamin M. Anderson. Then, beginning in the 1920s and continuing through the Bretton Woods era, the intrusions of government regulation and monetary devaluation fostered decades of economic stagnation, financial instability, and international conflict.

Leland B. Yeager (1924–2018) was a Research Fellow at the Independent Institute and Founding Member of the Board of Advisors for The Independent Review.
Banking and FinanceEconomyGlobal FinanceInternational Economics and Development
Other Independent Review articles by Leland B. Yeager
Summer 2000 The Collected Works of James M. Buchanan. Volume 1, The Logical Foundations of Constitutional Liberty
Summer 1997 Utilitarianism As a Public Philosophy