Comment Comment by throw0101d > He wrote about how the gold standard created responsible spending and more equality in the world:The Gilded Age, which had quite high levels of inequality, occurred when the gold standard was active:* https://en.wikipedia.org/wiki/Gilded_AgeIt should also be noted that the gold standard did not bring any kind of price stability:* https://archive.is/https://www.theatlantic.com/business/arch...Further, sticking to the gold standard made the Great Depression worse as it reduced flexibility and options of central banks had, and made deflation worse:* https://www.nber.org/papers/w3488The sooner countries left the gold standard the sooner they started recovering from the Great Depression:* https://www.nber.org/papers/w27586 parent throw0101d 4 months ago
The Gilded Age, which had quite high levels of inequality, occurred when the gold standard was active:
* https://en.wikipedia.org/wiki/Gilded_Age
It should also be noted that the gold standard did not bring any kind of price stability:
* https://archive.is/https://www.theatlantic.com/business/arch...
Further, sticking to the gold standard made the Great Depression worse as it reduced flexibility and options of central banks had, and made deflation worse:
* https://www.nber.org/papers/w3488
The sooner countries left the gold standard the sooner they started recovering from the Great Depression:
* https://www.nber.org/papers/w27586