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
The gold standard didn't exactly lead to a golden era.Athitat Shinagowin/EyeEm via Getty ImagesThe 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...