[image] The above chart was posted at another forum by a fiat and socialism zealot. It came from a blog. It was in an article in the blog titled, Another Strike Against a Gold Standard. How do you interpret the chart? http://humblestudentofthemarkets.blogspot.com/2010/09/another-strike-against-go…

Cause and effect are missing…

LOL, I almost got beer on my screen!

Fri. 12/06/22 18:31 EDT . post #179 Assuming “industrial production” is measured in terms of money, then one question is: Are the money numbers corrected for inflation, or not? If not, then how are we to know if actual production is increasing, or just the money numbers (reflecting continuously dev…

Fri. 12/06/22 19:14 EDT . post #180 Thank you! Edit: I know Cam Hui’s blog entry is 21 months old, but feel free to post a link back to this thread in the comments section . Maybe he can “get schooled by (our) Austrian perspective.”

If the data of the previous two decades were also included on that chart, all the post gold standard data of the Western nations on that chart would look quite poor.

I think Bob Murphy tackled this one in a Mises Daily. Can you find it, JJ?

Fri. 12/06/22 23:02 EDT . post #181 Is this the one, Dave?

I highly recommend that article. I just read it, and I can assure you it throughly debunks the graph.

The Earlier You Abandon The GOLD STANDARD and Start Your NEW DEAL, the Better

Economics Economics Questions

John_James June 23, 2012, 9:47am 14

The same way I interpret this one.

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The Earlier You Abandon The GOLD STANDARD and Start Your NEW DEAL, the Better

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