The Populists Were Not Always Wrong
The article discusses the historical context of populism and monetary policy, particularly referencing William Jennings Bryan's famous speech advocating for bimetallism. It highlights how perspectives on economic policies can shift over time, with modern populists now calling for a return to the gold standard. The author questions the competence of political elites compared to the populist movements of the past.
- ▪William Jennings Bryan's 'Cross of Gold' speech advocated for loosening the money supply through bimetallism.
- ▪Modern monetary policy has evolved significantly since Bryan's time, with the U.S. abandoning the gold standard in 1971.
- ▪Populist movements today are increasingly calling for a return to the gold standard, contrasting with historical views on such ideas.
Opening excerpt (first ~120 words) tap to expand
It’s fairly safe giving George Will a certain amount of credit, on the whole he delivers a worthwhile column. It usually makes more sense than whatever else is taking up op-ed space that day. There are exceptions. A few years back he pitched a curve that had me tugging at the whiskers. Joining the onslaught against the dastardly evils of populism, Will recalled William Jennings Bryan’s “Cross of Gold” speech as a futile also ran’s idea that was going nowhere. If you don’t know that famous oration, Bryan was pleading to loosen up the money supply.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The American Spectator | USA News and Politics.
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