3 ms·

We've done gold-backed for centuries and it was far,far worse than fiat. Fiat has been extraordinarily successful.

• seydor 4y ago
  because the world had not seen success until 1971?
  • tootie 4y ago
    Not none, but less. There's less poverty, more development and much stronger responses to crashes than in the past. There are still market failures but recoveries are much more manageable.