Would a Gold Standard Brighten Economic Outcomes?

This lesson received the 2016 Curriculum Gold Award from the National Association of Economic Educators. Historically, money was made of either valuable commodities such as gold or silver coins or pieces of paper (bills) representing these commodities. The United States severed its last official monetary link to gold in 1971. The January 2015 Page One Economics Newsletter describes some of the advantages and disadvantages of the gold standard.