In truth, the gold standard is already a barbarous relic.
Meaning
Keynes attacked the gold standard in 1923 because tying currencies to metal made economies rigid when they needed flexibility. The lesson reaches personal finance: rules once useful can outlive their purpose. Review one financial habit or belief you inherited and check whether it still serves your present situation.
Source: A Tract on Monetary Reform (1923)
About the author
British economist whose ideas in The General Theory (1936) reshaped modern macroeconomics and government economic policy.
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