I’m not saying we should have a gold standard again, there were obviously bad downsides. I’m questioning why we measure everything in money which loses its value over time due to inflation. Can’t we measure things in something that has a more stable value while also not having a gold standard?
But what’s the point in having an extra conversion? Like this would take extra effort and need to regularly be updated as the price of gold vs the local currency changes so there would have to be some advantage. Like having the price change over time is annoying but because your income and expenses are both tied to the same thing ideally it shouldn’t cause any thinking (it hasn’t because income hasn’t kept up with inflation)
I’m not saying we should have a gold standard again, there were obviously bad downsides. I’m questioning why we measure everything in money which loses its value over time due to inflation. Can’t we measure things in something that has a more stable value while also not having a gold standard?
But what’s the point in having an extra conversion? Like this would take extra effort and need to regularly be updated as the price of gold vs the local currency changes so there would have to be some advantage. Like having the price change over time is annoying but because your income and expenses are both tied to the same thing ideally it shouldn’t cause any thinking (it hasn’t because income hasn’t kept up with inflation)