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In economics, the term gold bug has three common meanings:
- an investor who is very bullish in buying the commodity gold (XAU - ISO 4217).
- a person who opposes or criticizes the use of fiat currency and supports a return to the use of the Gold Standard or some other currency system based on the value of gold and other hard assets.
- someone who considers one commodity, usually gold, "the appropriate measure of wealth, regardless of the quantity of other goods and services that it can buy".
The concept, in the second sense, was popularized in the 1896 US Presidential Election, when William McKinley supporters took to wearing gold lapel pins, gold neckties, and gold headbands in a demonstration of support for gold against the "silver menace."
- Gevinson, Alan. Silverites, Populists, and the Movement for Free Silver. Teachinghistory.org, accessed 18 December 2011.
- Konczal, Mike (21 January 2011). "Kristol, Kalecki, and a 19th Century Economist Defending Patriarchy all on Political Macroeconomics.". Rortybomb.
- Krugman, Paul. "The Gold Bug Variations". Slate. Archived from the original on 2 December 1998.Text "22 November 1996 " ignored (help)
- Mieczkowski, Yanek and Carnes, The Routledge Historical Atlas of Presidential Elections (2001), p.176. ISBN 0-415-92133-3
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