Список проголосовавших за комментарий "Thomas, <a href="/r.php?u=http%3A%2F%2Fen.wikipedia.org%2Fwiki%2FGold_standard&s=2941539895" target="_blank">en.wikipedia.org/wiki/Gold_standard</a><br/> Disadvantages<br/> <br/> The gold standard acts as a limit on economic growth.[56] “As an economy’s productive capacity grows, then so should its money supply. Because a gold standard requires that money be backed in the metal, then the scarcity of the metal constrains the ability of the economy to produce more capital and grow.<br/> <br/> Mainstream economists believe that economic recessions can be largely mitigated by increasing money supply during economic downturns.[57] Following a gold standard would mean that the amount of money would be determined by the supply of gold, and hence monetary policy could no longer be used to stabilize the economy in times of economic recession.[58] Such reason is often employed to partially blame the gold standard for the Great Depression, citing that the Federal Reserve couldn't expand credit enough to offset the deflationary forces at work in the market.[59]<br/> <br/> Deflation punishes debtors.[66][67] Real debt burdens therefore rise, causing borrowers to cut spending to service their debts or to default. Lenders become wealthier, but may choose to save some of their additional wealth rather than spending it all.[68] The overall amount of expenditure is therefore likely to fall.[68]<br/> <br/> Monetary policy would essentially be determined by the rate of gold production.[69] Fluctuations in the amount of gold that is mined could cause inflation if there is an increase, or deflation if there is a decrease.[60][69] Some hold the view that this contributed to the severity and length of the Great Depression as the gold standard forced the central banks to keep monetary policy too tight, creating deflation.[70][71]<br/> <br/> If a country wanted to devalue its currency, a gold standard would generally produce sharper changes than the smooth declines seen in fiat currencies, depending on the method of devaluation.[74]"