> Pretty much any empire ever founded was built on a gold standard
...because they didn't have the social and technological methods, as well as centralization of force, needed to make a fiat currency work.
The gold standard was never a great idea. It was just more functional and efficient than what came before it because the gold supply was usually inherently limited by how fast the mines could produce the stuff.
...because they didn't have the social and technological methods, as well as centralization of force, needed to make a fiat currency work.
The gold standard was never a great idea. It was just more functional and efficient than what came before it because the gold supply was usually inherently limited by how fast the mines could produce the stuff.