Thursday, May 9, 2013

The Gold Standard: Perspectives in the Austrian School Edited by Llewellyn H. Rockwell, Jr.

Status: One Round of QC (09.30.2013)


Fix Notes:

Page 15: Footnote 2: States

2. With the exception of the United Staes, which entered the war in the spring of 1917, two and a half years after the other belligerents.

Page 17: First letter is missing dropcap

Page 21: par. 1: persuaded

Without any agreement, without legislative compulsion, in fact, even without any consideration of public interest and the public good, individuals are pursuaded to exchange their goods and services for more marketable goods, even if they are not needed for immediate use.

Page 22: par. 0: emphasize

In all his investigations he sought to apply his subjective value theory and emphsize its importance for the elucidation of economic phenomena.

Page 23: bottom par.: anamoly (UNCHANGED) (used throughout book)

He was greatly alarmed by the fact that the guilder's purchasing power exceeded the metal value of the silver guilder, which to him was an "economic anomality" harboring "the greatest dangers to the Austrian economy."

Page 34: Footnote 25: passing

25. Ibid., p. 310. On July 14, 1890, the Sherman Act, pasing both houses of the U.S. Congress, provided that the U.S. Treasury purchase 4.5 million ounces of silver monthly, against which legal tender notes, redeemable in gold or silver coins at the discretion of the Treasury, would be issued.

Page 58: Footnote 52: Missing a section? Or an accidental piece of an extra line? I erased the bold section.

52. Mises, "The Causes of the Economic Crisis: An Address," 1931 in On the Manipulation of Money and Credit, pp. 199-200.

ian Perspective

Page 76: Footnote 2: indestructibility

2. One early list of such characteristics includes (1) utility and value, (2) portability, (3) indestructability, [...]

Page 89: par. 1: version

The gold exchange standard was thus "an adulterated verson of the gold standard," "a machine for perpetual inflation."

Page 115: par. 1: economy-wide (UNCHANGED)

for the sake of particular modeling exercises, although the value of such exercises is questionable, especially when individual preference functions are defined over economywide aggregates that no individual confronts directly.

Page 122: par. 0: monopolized

This process of negative feedback is absent from a central banking system, where the supply of bank notes is monoplized and the liabilities of the central bank are held as reserves by commercial banks.

Page 122: par. 1: commercial

A central bank, by contrast, faces no rival for the circulation of its notes. Both its notes and its demand deposits may serve as reserves for commerical banks, displacing specie from that role.

Page 125: par. 1: lifting

This would require lifing any prohibitions, taxes, regulations, and legislated accounting rules that could serve as barriers to entry of alternative outside monies.


I moved the Bibliography to right before the Index.

I moved all of the "Footnotes" on each first page of the chapter to the very end of the chapter right before the "Notes" section.

The footnotes in the Introduction are in the superscript format, while the rest of the book has them in the format of "##."

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