Doug wrote: > And central banks can throw scores of billions at troubled > markets under the present system; try that with a gold standard.
Isn't that a strong argument against the gold standard? At least that's how Keynesians have viewed it. Can moral hazard be dealt with within the present system? Keynesians would think so. They'd say that the issue could be addressed with better regulation. In any case, the issue here is, Who's more in tune with the needs of modern capitalism: Keynes or Hayek?
