Comment by MisterMower

Just because the gold standard had flaws doesn’t mean the fiat system that replaced it is flawless or even better. There are tradeoffs involved in both systems.

In a fiat currency system there is no meaningful constraint on the supply of money. We’re experiencing the effects of that feature of the fiat system currently. Tying the supply of money to a rare commodity like gold may create other problems, but it completely solves the issue of currency devaluation.

For the record, the world was on the gold standard when the agricultural and industrial revolutions occurred. It’s not at all obvious to me that the gold standard prevents productivity growth.