We first went off the gold standard because there wasn’t enough gold to buy all the stuff that we needed and were making. Our productivity jumped drastically with the industrial age, but the amount of gold in circulation just did not keep up. How is it even feasible that all the money in the world today could be replaced by gold? I guess if it happened, each oz of gold would cost tens of thousands of dollars? Then someone would need to make tiny slivers of gold to buy cheaper items like bread or shoes.
