Money Quote of the Day by Winston Churchill: ‘The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of Socialism is the…’

Money Quote of the Day by Winston Churchill: ‘The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of Socialism is the…’

Summary and Key Points: In April 1925, Chancellor Winston Churchill restored the British Gold Standard at the pre-war parity of $4.86. -Despite warnings from economist John Maynard Keynes that the move would “seriously damage” export industries like coal, Churchill followed the “mainstream” advice of the Bank of England. -The resulting economic strain led to the […] The post Money Quote of the Day by Winston Churchill: ‘The inherent vice of capi…