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What's the gold standard, and why does the US benefit from a dollar that isn't tied to the value of a glittery hunk of metal?

  • Written by Michael Klein, Professor of International Economic Affairs at The Fletcher School, Tufts University
imageThe gold standard didn't exactly lead to a golden era.Athitat Shinagowin/EyeEm via Getty Images

The phrase “the gold standard” means, in common parlance, the best available benchmark – as in double-blind randomized trials are the gold standard for determining the efficacy of a vaccine.

Its meaning likely comes from my world of...

Read more: What's the gold standard, and why does the US benefit from a dollar that isn't tied to the value...

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