The Critique of Commodity-Reserve Currency: A Point-by-Point Reply

  title={The Critique of Commodity-Reserve Currency: A Point-by-Point Reply},
  author={Benjamin A. T. Graham},
  journal={Journal of Political Economy},
  pages={66 - 69}
i. The first benefit asserted is that the commodity-reservoir system will go far to prevent the paradox of want amid plenty by providing an unlimited market at a fair average price for basic commodities as a whole. The expanded purchasing power of the raw-materials producers will greatly stimulate other sectors of the economy. About this "basic objective" the critique has little to say. It characterizes this "depression-insurance feature" as perhaps the most attractive of the plan; but it… Expand
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Inflation-free Pricing Rules for a Generalized Commodity-Reserve Currency
  • John Luke
  • Economics
  • Journal of Political Economy
  • 1975
Let currency be issued with several commodities as backing. If certain pricing rules are strictly followed, it is shown that currency can then be redeemed without restriction for any of theExpand