The gold standard didn't fail: Fiat money just completely obliterated it with its success.
Being able to issue fiat money is a feature of high trust governments and societies, not a bug, and people yearning back to needing a gold standard scare me, because that inevitably implies dismantling that trust to get there.
Being able to issue fiat money is a feature of high trust governments and societies, not a bug, and people yearning back to needing a gold standard scare me, because that inevitably implies dismantling that trust to get there.