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0 pointsNursie5y ago0 comments

Ah, I see, you haven't figured out why the gold standard was terrible either.

0 comments

Tbh. my very basic knowledge comes from strongly opinionated austrian economics literature, which tends to confirm my bias, and from [0], which at least gives me some data points to refer to.

Do you mind giving me some of your arguments why it's terrible?

[0] https://wtfhappenedin1971.com/

NursieOP5y ago

I mean, for a start 'Austrian' economics is a joke.

There's plenty of literature out there about the end of gold standards in various countries. The upshot of it is that economies get warped by constrained currency supply and those who already have tend to get more, over those who produce or invest.

dragonwriter5y ago

> I mean, for a start 'Austrian' economics is a bit of a joke.

More specifically, Austrian economics is overtly and proudly ideological rather than empirical; it is about advancing an agenda not describing reality.

It's worth taking seriously, but as a particular group’s body of theology and religious propaganda, not as science.

AnimalMuppet5y ago

"It's terrible, it's a joke" isn't an argument. Neither is "there's lots of literature" (implying "go do your own research").

Your last sentence was decent; the rest of your post was... not very useful.

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