> Did having an inflationary currency help us achieve the remarkable growth of the past hundred years? We can't know that either. Well leaving the gold standar

> Did having an inflationary currency help us achieve the remarkable growth of the past hundred years? We can't know that either. Well leaving the gold standard certainly helped countries start recovering from the Great Depression: > In the end, recovery from the Great Depression does not begin until countries give up on the combination of the Bagehot Rule and of commitment to sound gold-standard finance. Those countries that have central banks willing to print up enough money so that people are willing to spend it--it is when you adopt such policies that your economy begins to recover. If you don’t, you become France, which sticks to the gold standard all the way up to 1937, and never gets a recovery. When World War II begins, Nazi Germany’s production--equal to France's in 1933--had doubled between 1933 and 1939. French production had fallen by 15%. * https://delong.typepad.com/sdj/2013/10/the-great-depression-from-the-perspective-of-today-and-today-from-the-perspective-of-the-great-depression.html https://delong.typepad.com/sdj/2013/10/the-great-depression-... Ideally having neither too much nor too little money circulating is best, but it's impossible to do that, so it's better to have a little too much, as having too little hampers your economy: * https://en.wikipedia.org/wiki/Great_Bullion_Famine https://en.wikipedia.org/wiki/Great_Bullion_Famine