The Importance of Innovation in the Global Economy

When there's a new continent, there is going to be a rush to go get those resources. When you have this fixed system, a gold system is slightly deflationary. Gold exits the system over time. The only time that it is inflationary is when you find massive amounts of it. But over time, as the world becomes more interconnected and international travel becomes safe, you actually don't even have enough gold supply to support the growth of the global economy. It's just there needs to be some sort of innovation to make things easier.