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**sterofthemasteool** · 02-23-2012, 06:29 PM

"Had the trends under Bretton Woods continued, the average person’s real income would be nearly 50% higher, the increase in prices would be nearly 50% lower, trade imbalances would be nearly one-third smaller and the world economy over the past four decades would have suffered through 4 instead of 104 banking crises."

http://agoldenage.com/an-internation...verning-elite/

Nonsense. We had several depressions with a gold standard. Saying "this wouldn't have happened if we had gold" ignores a host of other problems that likely would have happened. Gold is not a panacea. Sound monetary policy would be beneficial as well. I highly doubt the market would have pushed wages up with gold as a backer.

02-23-2012, 06:29 PM	#30
sterofthemasteool Join Date Oct 2005 Posts 455 Senior Member	"Had the trends under Bretton Woods continued, the average person’s real income would be nearly 50% higher, the increase in prices would be nearly 50% lower, trade imbalances would be nearly one-third smaller and the world economy over the past four decades would have suffered through 4 instead of 104 banking crises." http://agoldenage.com/an-internation...verning-elite/ Nonsense. We had several depressions with a gold standard. Saying "this wouldn't have happened if we had gold" ignores a host of other problems that likely would have happened. Gold is not a panacea. Sound monetary policy would be beneficial as well. I highly doubt the market would have pushed wages up with gold as a backer.
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