4 ms·
If you call a steady 1-2%/year "massive". The real effect has been to stabilize the economy. I guess people who like gold standards don't know their economic h
by padobson 5y ago
If you call a steady 1-2%/year "massive".
The real effect has been to stabilize the economy. I guess people who like gold standards don't know their economic history. The 19th century, which is arguably a recognizable modern economy (in the West), was punctuated by panics and strong recessions that made the "Great Depression" look tame. (which itself makes the Great Recession look pretty tame.). Getting of the gold standard was key to fixing that.
I have literally never seen this argument before, and I've been reading economics books for 10 years.
I'm more curious than anything. Please tell me where I can find more.