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| Have you ever considered the fact that fixing the US dollar, or better yet, fixing all nation's currencies to gold would cause devastating deflation and a crisis far worse than the Great Depression? The gold standard was in fact one of many causes of the Great Depression.
Real GDP (thats nominal minus inflation) since 1900 has grown 3-4%. We mine gold and annually since that time have added around 1-2% annually. Population has quintupled.
I'm not going to disagree with you that the US debt level is good or appropriate- it is problematic and needs attention. But your extreme cynicism is in part due to fundamentally not understanding macro economics like you think you do. Milton Friedman has said quite a bit on this exact subject and how a gold standard could only work if it were adjusted to real gdp and population growth. We got good at both in the last 100 years. Lots of innovation which also populated our world.
Our society isn't perfect and never will be on this side of heaven, but goodness we live in an incredible world with so much innovation and progress. Be cautious in pushing for economically regressive policy - there is a balance between where we are and a fixed currency. | |
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History of tariffs.
