This article, taken from Forbes.com discusses the effects of the gold standard on the dollar. The article focuses on a campaign waged by Steve Forbes and Steve Lonegan which has a goal to reinstate the gold standard. They argue that before 1971 America was continuously prospering, but after the dollar went off the gold standard more economic struggles occurred. Since the dollar is no longer good as gold it is not a solid backed up currency and that is the basis of many problems.
I agree with this article that the lack of a gold standard is not good for the economy. The country has been off the gold standard for 40 years and inflation has increased far more drastically since then in comparison to how it had increased on the gold standard. I think the country would be better off if it returned to a system where the currency was backed up by something tangible instead of currency being manipulated by the Federal Reserve.
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