A lot of Tea Party types want to put the US back on the gold standard. One wonders how many of them even know what this means. Barry Eichengreen examines this "oddball proposal" in A Critique of Pure Gold, in the new National Interest.

Two other economics readings: Vincent Reinhart, Is the Economy Freefalling?, in the AEI Economic Outlook series; and the CBO's updated Budget and Economic Outlook.