3 ms·
So this provides essentially the same effect as the gold standard, no? The gold standard was an element of "stickiness" between money and gold, and sticky wages
by belovedeagle 13y ago
So this provides essentially the same effect as the gold standard, no? The gold standard was an element of "stickiness" between money and gold, and sticky wages are between money and labor.
- dllthomas 13y agoStickiness is economically bad. We can't fix sticky wages without changing people.