Is there any way possible for the world economies to keep to the gold standard? OR even a gold and silver standard? Anything that would prevent the rise of fiat currency. Is it even economically feasible?
Is there any way possible for the world economies to keep to the gold standard?
Absent preventing the Industrial Revolution and/or the "consumer explosion" which preceded/fed/was a part of/resulted from that revolution? No.Is it even economically feasible?
WI there is no welfare state?The only way to stay on the gold standard is to prevent WW1 or have only have a short war.
Without the money printing no power could finance the war and after the WW1 and WW2 permanent inflation is needed to finance the welfare state.
The only way to stay on the gold standard is to prevent WW1 or have only have a short war.