The major push in libertarian capitalist thinking at the moment is for a return to the gold standard and turn away from the consumption and credit backed currencies of the present.
I can understand why this would be popular in those circles, there's big problem with a consumption driven economy when what is trending is jobless growth and the wages of the biggest spending population are being repressed to make for greater profits. Credit has been a fix for that for a while but that is not working any longer either.
However a gold standard is going to require massive cuts in welfare and some massive adjustments in popular expectations, basically a reversion to the kind of society of the great gatsby or something. For libertarians that's not really a problem. Its what they'd really like to happen actually. Into the bargain they've been hoarding gold for a long, long time.
I dont see how this is any solution, for one all the surplus people who are unemployed and unable to claim entitlements, what does anyone suppose will happen to them? Practically its something on the scale of Stalin or Mao's engineered famines which is on the cards for the 99%
While I dont believe the libertarian ideas are worth anything, credit and consumer driven economies, while keynesianism is impossible for a variety of reasons, mainly political, are going to experience problems. I'm not even sure that without more fundamental structural adjustments that keynesian fixes are going to work. What do you guys think?
There are problems with the market systems besides the more fundamental contradictions which gold standards will not address too. Principally wage inflation in the private, banking, and public (managerial and boardroom) sectors.