Ah, the gold standard…if it was good enough for Herbert Hoover, it should be good enough for us, right?
The reason the major countries of the world abandoned the gold standard in the 1930s was that it was hamstringing their ability to respond to the global Great Depression – it’s inflexible by its nature. And before that, “rampant greed” laughed at the gold standard, and had no problems flourishing in its presence.
Rampant greed is hard-wired into our corrupted human nature. The cure for that has been around for a couple of thousand years, but not too many people are sincerely interested.
Ah, the gold standard…if it was good enough for Herbert Hoover, it should be good enough for us, right?
The reason the major countries of the world abandoned the gold standard in the 1930s was that it was hamstringing their ability to respond to the global Great Depression – it’s inflexible by its nature. And before that, “rampant greed” laughed at the gold standard, and had no problems flourishing in its presence.
Rampant greed is hard-wired into our corrupted human nature. The cure for that has been around for a couple of thousand years, but not too many people are sincerely interested.