The authorities could manage a flexible, paper money system so as to help maintain full employment.

FORBES: Culture Of Lies Colors Our Future Darkly

We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.

FORBES: Golden Lessons From Helicopter Ben And Spanish Galleons

Under our current system of paper money a few politically connected bankers make those determinations.

FORBES: Give The Gold Standard Its Due

Some of the more pessimistic commentators see the recent credit excesses as the inevitable consequence of a system based on paper money and call for the return of the gold standard to prevent future crises.

ECONOMIST: Central banks and the bullion price