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by imtringued 1696 days ago
Globalization has exploded since we got off the gold standard. It was heavily slowing the world economy down. There just isn't enough gold to represent all the amazing things people want to do.
1 comments

With globalisation happening about the same time as coming off the gold standard I understand the conclusion. There are two flaws in the logic leading there. First, globalisation is the result of the technonogy, particularly transportation and materials, available. Second, even with a gold standard the value of gold increases over time. A single unit of gold is able to buy more as the economy it represents grows. On the ground, with dollars pegged at an amount of gold, you would see this as prices decreasing as they were for the history of the US gold standard.