Sound Money


Also found in: Wikipedia.

Sound Money

A somewhat polemical term for a currency backed by a tangible commodity such as gold, silver or platinum. Sound money has an intrinsic value, but is more susceptible to deflation than fiat money. Many countries used sound money throughout most of their histories; however, most countries today use fiat money and have since the United States left the Bretton Woods System in the 1970s. The term "sound money" is often used by those who favor its reintroduction. The more common term is hard money.
References in classic literature ?
It were a pity to let sound money stay in the pockets of such thieving knaves.
Labour under Mr Corbyn had "completely abandoned" the principles of strong defences, sound money, an enterprise economy and equality of opportunity, leaving the Conservatives "the party of working people", he said.
com offers detailed background information on the pillars of supply-side economics-including low flat rate taxes, free trade, sound money, decreased regulation, reduced spending, and the rule of constitutional law.
Concentrating monetary power in the hands of a few individuals within a government bureaucracy, even if those individuals are well intentioned and brilliant, does not guarantee sound money.
Allowing Greece to defer its debt repayments now will undermine financial self-discipline - sound money.
Among them: size of government, property rights, sound money, freedom to trade internationally, and government regulation.
It is the worldas premier measurement of economic freedom, using 42 distinct variables to create an index, ranking countries based on economic freedom, which is measured in five areas: size of government, legal structure and security of property rights, access to sound money, freedom to trade internationally, and regulation of credit, labour and business.
The idea of sound money arose in the nineteenth century (Hepburn 1903).
It is the mission of Mises Canada to advance the Misesian tradition of thought through the defence of the market economy, private property, and sound money.
Experts from around the world offered insights on how to raise performance in categories that rate economic freedom such as size of government, regulation, access to sound money and freedom to trade internationally.
Part 3 of the book explores New Deal myths, war-era episodes of crony capitalism, the so-called twilight of sound money, and what is portrayed as Eisenhower's last stand for fiscal rectitude.
The report reveals that the Sultanate has made considerable improvements in the Sound Money and Freedom to Trade Internationally Indexes as it becomes more competitive in global markets and offers attractive incentives to investors.