By going off the gold standard, we abstracted away from the real economy, and moved further away from reality. We measure productivity through GDP, but this increases when we print money, so it isn’t really a useful measurement, similar to a scale always telling you, you’re at your desired weight.

I agree that using GDP as a metric of health is more complicated, but I wouldn't say moving off of gold means moving off of reality. We are much better off being able to create money that is controlled by interest rates. Now, productivity is determined by the delta between federal fund rate and ROIC for new projects

Founder of venture DAO Chainforest (www.chainforest.xyz). Also treasury Co-Lead @ FWB. Liftcaster. Fashioncaster. Dadcaster. NYCaster. NBA Caster.

Interesting! This is similar to saying that productivity is whether or not you can produce more with the same amount of capital. Where can I explore these arguments further?

I'm not sure - i was just recently thinking about why GDP *ever* expands, and my conclusion is debt is unlimited and money circulates more quickly over time as long as ROIC of new projects is > cost of capital