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Job Creation and the Gold Standard

Some revelations, research, and realities for your information and intrigue...


  1. Small and medium-sized businesses are typically locally owned and operated. Characteristic of most locally-controlled businesses, they have a regional sales base. They usually do not move because they do not want to leave their customers behind. Fortunately, that means the jobs and tax base remain in the region. Because most jobs are created through expansion, a business retention strategy that focuses on local small businesses is fundamentally a sound economic development strategy.
  2. One way jobs are created: New machines improve productivity through technological breakthrough and makes the investor's price competitive. Jobs are created when a business invests in plant and equipment (assets). So here is the process: 
    1. A plant expansion requires new machines and new machine operators
    2. New machines increase output, which necessitates more inventory handlers, shippers, sales people, accountants, managers, etc.
    3. The new jobs add to the local income and tax base and create wealth and employment opportunities in the community
  3. Money can be anything we use to make purchases with. At some point in time, any and everything has been used as money: whale's teeth, shells, cows, goats, furs, leather, copper, silver, gold, and pieces of paper with pictures on them. In 1933, the US went off of the gold standard because of high inflation rates and the international devaluing of the dollar. Truth is, there is nothing valuable about gold itself. Gold is low on the spectrum of human needs. The reason people have wanted gold for centuries is its ability to capture and keep our fancy. It is shiny, natural, and rare.

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