Was the gold standard a good or bad economic practice?

Having your currency backed to something tangible is always a good economic practice....you know, instead of just creating it out of thin air like we do now...

Well, it didnt put us in debt to the Central Banks at least

Spend less than the revenue you generate.

Would love to hear a real economist’s take on this.

I have no clue but my first question is “would there be enough gold out there to keep up with population growth + productivity?”

Seems like if we kept the dollar pegged to gold, there might be a lot less wealth amongst the middle class.

For sure coming off the gold standard built in more inflation and devalued the dollar.. but would there be a far lower income per capita as a result? No clue but interesting convo.

Either way the government is fricking wasteful. There hasn’t been a fiscally austere administration in a long time unfortunately..

Good. Without it you pretty much have Monopoly money.

I think gold was the standard



Seems kids today want gems, just seems uncomfortable

What is this from

quote:

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Seems like it was an effective way to prevent inflation.

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It’s also an effective way to limit growth and limit the markets your goods can sell to internationally.

And given that it’s not like inflation only started to be a significant factor in 1971, not sure what the basis of the assumption is.

Good