If you have empirical evidence that, after abolishing the gold standard, economic crashes were still as frequent and as severe as they were under the gold stand

If you have empirical evidence that, after abolishing the gold standard, economic crashes were still as frequent and as severe as they were under the gold standard, I'd love to see it. Until I do, I'm skeptical that any such evidence exists, because I'm pretty sure that they have not been as frequent or as severe. > The gold standard wasn't great but at least it kept the monetary policy anchored to the reality. I will agree with you that the Fed policy is less constrained by reality than it would be under the gold standard. I think the new actually works better, but I admit that the lack of constraint is a serious concern.