The gold standard is/was bad. It could help turn economic downturns in things like the Great Depression:
* https://www.nber.org/books-and-chapters/financial-markets-an...
And it does little/nothing to help economic stability, as measured by things like the CPI:
* https://www.theatlantic.com/business/archive/2012/08/why-the...
* https://archive.md/FWKcL
And when it's not doing much for stability, shortages can actually stunt economic growth:
* https://en.wikipedia.org/wiki/Great_Bullion_Famine
Further, adherence to the gold standard also tends to lend itself to austerity which leads to economic suffering (e.g., deflation) which has often people to more extreme politics:
* https://www.nber.org/papers/w24106
* https://en.wikipedia.org/wiki/Austerity:_The_History_of_a_Da...
For all of its problems, the current credit-based monetary system is better than past systems. For a (popular) history of money through the ages:
* https://bookshop.org/books/money-the-true-story-of-a-made-up...
The gold standard is/was bad. It could help turn economic downturns in things like the Great Depression:
* https://www.nber.org/books-and-chapters/financial-markets-an...
And it does little/nothing to help economic stability, as measured by things like the CPI:
* https://www.theatlantic.com/business/archive/2012/08/why-the...
* https://archive.md/FWKcL
And when it's not doing much for stability, shortages can actually stunt economic growth:
* https://en.wikipedia.org/wiki/Great_Bullion_Famine
Further, adherence to the gold standard also tends to lend itself to austerity which leads to economic suffering (e.g., deflation) which has often people to more extreme politics:
* https://www.nber.org/papers/w24106
* https://en.wikipedia.org/wiki/Austerity:_The_History_of_a_Da...
For all of its problems, the current credit-based monetary system is better than past systems. For a (popular) history of money through the ages:
* https://bookshop.org/books/money-the-true-story-of-a-made-up...