> The argument is a refutation of the idea that economic growth cannot happen while on a gold standard, This is correct. Rapid economic growth happened on the

> The argument is a refutation of the idea that economic growth cannot happen while on a gold standard, This is correct. Rapid economic growth happened on the gold standard. The issue is not about long term economic growth, but volatility. Hard money creates an environment with lots of rapid inflation and deflation and very strong boom/bust cycles. That volatility has costs (human costs of the pain of mass layoffs) but also benefits (weaker companies are more rapidly weeded out). After the Great Depression, it was decided that the costs outweigh the benefits, but it's a legit question that should not be so readily dismissed.