Keynes was one of the great advocates for dropping the gold standard, calling it a barbarous relic - as his biographer Skidelsky says, "useful as a constitutional monarch but disastrous as a despot".
The various central bankers clinging to gold - against all evidence - caused the great depression's deflationary spiral.
Keynes was one of the great advocates for dropping the gold standard, calling it a barbarous relic - as his biographer Skidelsky says, "useful as a constitutional monarch but disastrous as a despot".
The various central bankers clinging to gold - against all evidence - caused the great depression's deflationary spiral.