A gold standard is terrible monetary policy, even worse than the status quo. Good monetary policy would be the fed doing NGDP level targeting a la Scott Sumner

A gold standard is terrible monetary policy, even worse than the status quo. Good monetary policy would be the fed doing NGDP level targeting a la Scott Sumner: https://www.mercatus.org/system/files/NGDP_Sumner_v-10%20copy.pdf https://www.mercatus.org/system/files/NGDP_Sumner_v-10%20cop... Monetary policy only goes so far though, if you actually want to distribute resources in an equitable way, you probably also need good tax policy. Good tax policy would be taxes which decrease wealth inequality (e.g. luxury consumption taxes, land value taxes).