I have been invited to take the "NO" side in a debate regarding whether or not we should return to the gold standard. It is currently up and running on http://www.opposingviews.com/questions/should-the-us-return-to-the-gold-standard where I am pitted against Donald Luskin, a CNBC contributor. I think the case is open and shut but looking at the web site there are already objections to what I wrote. This is well and good as a healthy discussion of what we do and do not know is always a welcome guest at my house.
Having said this, we know what a disaster the gold standard was during the Depression. This is unquestioned in the economic literature. Where's the debate?