Lewis E Lehrman
Economics
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Protectionism, Inflation, or Monetary Reform
November 1, 1985 - Morgan Stanley

This is the seventh in a series of strategic-issue essays by "good thinkers" that have been published on subjects ranging from gold, supply-side economics, to world debt problem. In this paper, Lehrman argues that the record of the last decade makes clear that floating exchange rates create monetary anarchy.

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Golden Antidote to High Interest
June 29, 1984 - The Wall Street Journal

Only the gold monetary standard can renew faith in the fixed value of all future money payments on borrowings (bonds, mortgages, stocks and other long-term financial contracts).

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Let's Talk Money at Williamsburg
May 11, 1983 - The Wall Street Journal

Only a world currency will work. That is why having national currencies convertible to gold—an international money—has worked in the past and will work again. Only the U.S. can take the lead.

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If We Had 'Real' Money We Could Still Salvage the Reagan Revolution
February 20, 1983

THOSE OF US who believe in the goals of the Reagan revolution had better face up to the consequences of the last two years. We called for boom and got something very close to bust. We called for a balanced budget and got record-shattering deficits. We called for a restoration of capital markets so business could borrow money for long periods at reasonable interest rates, and we got a devastating credit crunch.

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Lehrman Urges Return to Gold Standard
1983 - The Washington Times

Lewis Lehrman talks with Washington Times columnist John Lofton about the Reagan administration's handling of monetary policy-and he tells what he would do to solve economic problems. This includes a program that would re-establish the gold monetary standard in the United States.

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Time to Return to the Gold Standard?
September 7, 1981 - U.S. News & World Report

In these 'Pro and Con' interviews Lewis E. Lehrman discusses the wisdom of returning to a gold standard and defining the dollar's value in terms of gold.

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Should We (and Could We) Return to the Gold Standard?
September 6, 1981 - The New York Times

President Reagan appointed a commission of 17 experts to review the issue of gold. Its specific task was to determine whether the metal should once again play a dominant role in the domestic and international monetary system.

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The Case for the Gold Standard
July 30, 1981 - The Wall Street Journal

Under the gold standard, the immense national debt could be refinanced very long term...

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A Glittering Economy
July 22, 1981 - The Washington Post

President Reagan was elected to end inflation and restore the economy. He is moving in that direction… but the economic program will not work without a BALANCED BUDGET and the GOLD STANDARD.

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The Origin of Money — 4000 B.C. – 1700 A.D.
July 1, 1981

Forerunners of man lived upon the planet several million years ago. But the unique social order of man — civilization — emerged only four to five thousand years ago. Historical and archaeological evidence suggests that the institution of money evolved coterminously with civilization among all the institutions of life on earth; therefore, civilization and money are but young and fragile reeds. Their growth and development occurred only recently and today their very existence is threatened with extinction. But modern civilization is unthinkable without money as even a moment's reflection suggests. Why is this so? What accounts for the appearance of money in the civilized affairs of men? In fact, what is money?

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The Struggle for Financial Order in the Western World
May 1, 1981

A free people can have a nominal paper dollar; or they can have a real dollar, defined by its weight in gold, which is the historic American monetary standard. When we had a sound dollar, we had no serious inflation.

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The Case for the Gold Standard
May 1, 1981 - Morgan Stanley

This interview includes reflections on the struggle for financial order including returning to a gold standard. Lewis Lehrman discusses the Republican platform and why the Reagan administration should accept the gold standard.

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The Case for the Gold Standard
March 1, 1981 - Silver & Gold Report

This exclusive interview with Lewis Lehrman includes a thorough-going discussion of why he favors the gold standard, how to return to it, and what effect it would have on the economy.

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The Means to Establishing Financial Order
February 18, 1981 - The Wall Street Journal

The true means by which to achieve the goal of a stable value for the dollar is a remobilized discount rate at the Federal Reserve Bank, joined to a true international gold standard.

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How to End Inflation
January 18, 1981 - The Washington Post

Inflation is the transcendent issue of our times. Inflation is to our generation what depression was to our grandparents. Inflation, if not stopped, will revolutionize our nation and its social institutions.

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A New Public Philosophy
November 12, 1980

The Presidential election was a political avalanche. There are many ways to interpret it, but the significance of the vote is unequivocal. President Reagan clearly has a mandate to change the direction of public policy in America. It is true that much of the vote was an anti-Carter vote. It is also true that the House of Representatives remains in Democratic hands. But the Senate is a Republican body today for the first time since the early Eisenhower years (1954). And in any event the House of Representatives may wind up in the hands of a coalition of Republicans and moderate-to-conservative Democrats, all of whom may be interested in a change of direction in public policy. Whether this will be a desirable outcome will depend on one's philosophical point of view.

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Real Money
August 1, 1980 - Harper's Magazine

The world economy of the nineteenth century was, above all, characterized by the gold standard. Each great power defined its currency by a weight unit of gold and guaranteed convertibility, at that rate, of cash into gold. The international gold standard was the impartial arbiter and balance wheel of the world financial system.

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Total Economic and Monetary Reform. Stop the Battle for Reagan's Soul
June 16, 1980 - The Wall Street Journal

There is intellectual combat going on in Governor Reagan's camp. Some call it a struggle for Reagan's soul. The subtle arguments of the opposing sides make a battle ground of many editorial pages, for it is clear that Governor Reagan may be our next President.

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Gold is Not a 'Side Show'
February 20, 1980 - The Wall Street Journal

The lagged correlation between the rise and fall of Federal Reserve Bank credit and the rise and fall of gold is not perfect, but there is compelling association between the two. For example, almost every reacceleration of Federal Reserve Bank credit between January 1977 and January 1980 tends to be accompanied by an acceleration in the price of gold.

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Monetary Policy, the Federal Reserve System, and Gold
January 29, 1980 - Morgan Stanley

This essay presents the economic and political issues of the 1970's and 1980's, similar to the present, including the complex interrelationship between Federal Reserve Bank policy, inflationary expectations, the financial markets, and the price of gold.

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The Great American Food Disaster
December 9, 1977

Are the experts ever right? Do you remember the “Club of Rome” forecasts in 1973-74? The intellectually fashionable Rome “experts” and many other specialists predicted permanent food shortages. Anticipations of worldwide famine swept them and the media men off their feet. When the soybean price reached $12 per bushel, even the American President pushed the panic button and embargoed the export of precious soybeans to the Japanese who had always relied on them as their largest source of protein. Cassandras all over the world bewailed the unhappy end of agricultural abundance in America. Indeed, it was only two years ago that wheat sold for $6 a bushel at the grain elevator. Even feed corn sold as high as $4.50 per bushel in the cash market. Because of these record prices and scarcities, foreign policy wags everywhere waxed eloquent about the coming era of an American food monopoly. It was argued by these neo-Malthusians that U.S. agricultural hegemony had been ushered in by those same economic forces of “permanent scarcities” which gave rise to the oil shortage and the OPEC monopoly. The people of the world had consumed too much of their scarce resources like oil and food. Population had outrun production the experts moaned. Citizens of the world had but two choices: (1) face up to the shortages and potential famine by reducing population to zero-growth while conserving food, or (2) perish.

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Inflation and Civilization: Man's Fate and His Money
October 5, 1977

We identify civilization by its etymology: -- From the Latin "civis", or "civitas", meaning citizen or city. That is to say, civilization is characterized by the economy of city life. By this definition hunting and gathering cultures are, in the most fundamental sense of the word, not civilized. Indeed, the emergence of early urban cultures, over four thousand years ago, occurred coterminously with the intensification of agricultural and commercial exchange in the village markets of the Near and Middle East. In a word, the city and commerce are one.

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Barbaric Relic or Rational Money - Ray Vicker, The Realms of Gold
Volume 50, 1977

John Maynard Keynes and his disciples buried the gold standard, we might say, in the tomb of the "barbaric relics". There, its tribal bones have remained to this day, for most policy makers, economists and intellectuals. In order to replace the gold standard, fashionable Keynesian policy makers and debarbarized monetary theorists bravely ushered in the postwar Bretton Woods era of the "gold exchange standard" and countercyclical fiscal policy, followed in the 1970's by the familiar contemporary regime of managed floating currency systems.

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Up, Up and Away! The U.S. Debt
September 1, 1977 - The Reader's Digest

The runaway momentum of federal expenditures is threatening this country's very independence.

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Federal Debt, Taxes, and National Independence
April 14, 1977

Not until several weeks ago did I realize that the arcane subject of Federal government debt had become a subject of cocktail party debate. I suppose that the cause of the heated debate was a discussion of the “de facto” bankruptcy of New York City. (For two years New Yorkers have been helpless observers of one of the most remarkable economic spectacles of our time — the financial immobilization of the richest city on earth.)

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Money and the Coming World Order: The Creation of International Monetary Order
1976 - A Lehrman Institute Book, published by New York University Press

Today, national economic policy making is largely concerned with the problems of unemployment and inflation. More precisely, it is their simultaneous combination in nearly all Western economies which preoccupies policy makers. As these problems grow worse, the stakes rise higher.

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Reflections on the Monetary History of the West — 1700-1974
January 3, 2011

By 1700, the banking system of Europe had elaborated the institutions of money and credit we know today. And England had taken the lead. For almost 200 years, from 1717 until the onset of World War I in 1914, the British pound sterling, a weight unit of metallic money, set the example for modern monetary systems. Significantly, standard British money was called the pound. Equally important the English word money comes from the Latin word moneta, meaning literally coin or mint. Money is coin minted currency. Historic standard money of the Western world in general was coined metal. And in particular the standard unit of coin in England was the pound sterling, a pound weight of metal.

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