The Pros And Cons Of Inflation In The United States

Inflation comes from the latin word inflare, meaning to blow up or inflate. It was first used to describe the increase in the amount of money in 1838. The inflation from January 2016 was 1.37%, which is not good for the US economy. Today, prices of everyday consumer goods are rising while the value of money is going down due to the rapid printing of money from our government. Returning to the gold standard could be the answer to this problem that we are looking for. There are many pros and cons that come with changing the money system from the dollar to gold. I like the idea of returning to the gold standard, it is an interesting idea and the pros outweigh the cons in my opinion. It is also a good idea on how we can solve our country’s financial problem. Inflation is slowly becoming a problem in our country and there should be something done to limit the amount of money the government can print. I believe that returning to the gold standard is the best way to do this. The United States currently uses a fiat currency. Fiat money can be printed at will but has no real value.. You cannot use the dollar in different parts of the world because it has no meaning to them. But, gold can be used worldwide because everyone has known about it and it’s worth since 550 BC. The value of the dollar is determined through the supply and demand. Whereas, the value of gold is determined through the value of …show more content…
Our inflation rates are very high, while government spending isn’t slowing down. In my opinion, the best solution to this problem is returning to the gold standard. People need to learn about the gold standard and its pros and cons to understand what it is and what it has the potential of doing for our country.I’ve done research on this topic and I have seen the facts and I firmly believe that a return to the gold standard could be the answer our country is looking for in our ever growing financial