We Had a Higher Standard of Living on Gold

Money Does Matter: The End Of The Gold Standard Led To A Lower Standard Of Living

Authored by André Marques via The Mises Institute,

On August 15, 1971, Richard Nixon announced that the US dollar (USD) would no longer be redeemable in gold. This was supposed to be temporary. And yet, fifty-one years later, here we are. The gold standard was gradually dest…