At Forbes.com, Nathan Lewis reviews George Gilder’s argument for stable money in his latest book, The Scandal of Money: Why Wall Street Recovers but the Economy Never Does.
Writes Lewis: “Money, Gilder argues, is not only a medium of exchange, it is a medium for the transmission of economic information. The information inherent in prices, or profit and loss, guides all activity in the market economy. When this information becomes corrupted – when there is so much noise in the transmission medium that the signal becomes lost – then gross errors take place.”
Continue reading at Forbes.com.