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Economics

Center on Wealth, Poverty, and Morality

George Gilder and the Scientific Foundations of the Gold Standard

Discovery Senior Fellow George Gilder’s recent monograph on gold and the economy, commissioned by the American Principles Project, continues to attract curiosity and praise, especially in light of the debt crises in places like Greece, China—and the USA one day. At Forbes, Ralph Benko praises Gilder’s monograph and traces the gold standard from its inception—crediting both Sir Isaac Newton and Nicolas Copernicus—to modern-day, writing that “Gilder reveals anew the gold standard’s deep scientific foundation.” This week, George Gilder will keynote the Innovation Summit in Silicon Valley, followed by several talks at Freedom Fest in Las Vegas, then the Money Show in San Francisco. There will be media following all of them. While at Freedom Fest, Gilder also will be involved Read More ›


George Gilder Joins Team Gold And Explains Where Friedman Went Wrong

My goodness! I honestly believe that today’s team of Classical monetary intellectuals is probably the best since about 1910. The long era of monetary ignorance, that characterized the 20th century, is finally passing. That team is strengthened now by the powerful intellect of George Gilder, who recently released a monograph entitled: The 21st Century Case for Gold: A New Information Theory of Money. Read More ›


Why “Gold in the 21st Century”?

GilderDiscovery Sr. Fellow George F. Gilder delivered his monograph, Gold in the 21st Century, today at the Princeton Club in New York City. The book length paper was the product of the American Principles Project and represents a next step in George’s thinking on the issue of money as it changes in our time. His next book, Life After Google (working title), will incorporate his insights on gold into a discourse on fulfilling the Internet’s promise–and resolving its ailments. Read More ›


Tech “Elders” Oppose Obama Internet Grab

Discovery Sr. Fellow George Gilder and other “elders” of the privatized Internet era expressed their alarm over drive by the FCC and Obama Administration to put Internet innovation under federal regulation in the name of “Net Neutrality”. They want an “open Internet” instead.

The Daily Caller said, “Tech elder George Gilder, a futurist author and co-founder of the Discovery Institute, told TheDCNF that businesses have no incentive to interfere with Internet freedom. ‘Their interests are aligned with an open Internet,’ he noted, ‘and the idea that Title II can impose an open internet is just quixotic.'”

A sizable media contingent covered the “elders” presser, and noted the significance of leaders such as Bob Metcalf, John Perry Barlow, Mark Cuban and Scott McNeilly, among others, speaking out on a controversial subject. Daniel Berniger organized the event.

George Gilder advised me today that the Internet companies now represent almost half the value of the NASDAQ and that putting the FCC into the role of regulating them–using the old telephone company model of 1934–could greatly damage economic growth. “It’s Obama’s biggest socialist grab so far,” Gilder said. Read More ›


Gilder: Bitcoin “Puts the Power of Money Back into the Hands of its Users.”

At the New York Business Journal, read a re-cap of George Gilder’s fascinating talk on bitcoin at AlwaysOn’s OnFinance conference. Gilder explains why sees in bitcoin the potential to provide a “new infrastructure for the Internet”: bitcoin opens up new horizons for web-based payments, and could ultimately displace the heavy advertising that currently dominates web transactions. Read More ›


Scott Powell Talks to Students About American Free Enterprise: Its History, Its Critics, and Its Sources of Renewal

The following is a transcript of a recent talk CWPM Fellow Scott S. Powell gave to a crowd of students at Florida Atlantic University.

There have been many civilizations that have come into being over the last 6,000 years—from the ancient Mesopotamians, Egyptians, and Asian civilizations that sprang up around the Euphrates, Tigress, Nile, Indus and Yellow River valleys, to the more recent and advanced Greek and Roman civilizations, which have more directly shaped Western civilization. While each of these civilizations made their own contributions to progress during the times in which they flourished, none of them unleashed the kind of economic development and entrepreneurial productivity witnessed in the first two hundred years of the American civilization. Read More ›


George Gilder: Obama’s FCC Puts Internet, American Innovation at Risk

George Gilder explains his opposition to the FCC ruling on net neutrality, arguing that taxing and regulating the internet like it was 1934 will surely stifle investment and innovation, and will turn bandwidth abundance into scarcity. Writes Gilder: “The Internet is a multifarious engine of real innovations, launching new and transitory monopolies with every new phase of its tumultuous growth. An unnecessary effort to suppress every monopoly would bring all this innovation to a halt.” Continue reading . . .


Federal Reserve Needs To Normalize Interest Rates In 2015

Dodd-Frank reform priorities were to increase transparency, decrease risk and protect the taxpayer from too-big-to-fail banks. None of those imperatives has been accomplished. But five years later, the legacy of Dodd-Frank has saddled banks and the economy with increased uncertainty and compliance costs of more than 400 new regulations, many of which aren’t yet finalized. Read More ›


The State of the Union Is a Mess: Honesty Would Be a Good Start

By Scott S. Powell Originally published at The Daily Caller With a new year often comes anticipation and optimism. And this year the State of the Union address will be in front of a new Congress — with a Republican majority in both the House and Senate. President Obama’s State of the Union speech will likely have its smallest audience to date. That is the price any leader pays for being dissembling on a range of important issues — from Benghazi, to IRS targeting of conservative American non-profits, to keeping your doctor, trading the Gitmo 5 for deserter Bowe Bergdahl — and showing disrespect for the voting public. After all, when after the November 4 election results came in, and Read More ›


Have a Hobbit Party for Thanksgiving

The Thanksgiving holiday is a perfect occasion for reading The Hobbit Party by Jonathan Witt and Jay Richards, both of them Discovery fellows. It’s an amusing and sage guide to Tolkien’s philosophy as applied to modern times–to economics, for example. The distinguished Catholic priest/cultural guide, Fr. C. John McCloskey, does the book proud in Catholicity.com.