Since the brief monetarist heyday of the early 1980s attempts to achieve price stability by controlling money have been abandoned.

在货币主义者渡过了他们二世纪八十年代早期的短暂繁荣后，人们已经放弃了通过控制货币来保持物价稳定的努力。

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During peacetime, commodity standards (silver or gold) worked through market forces to achieve price stability, and thus safeguarded the purchasing power of money.

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However, history has shown that when the Fed fails to achieve price stability, the result can be stagflation, as in 1970s not real economic growth and full employment.

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To achieve price stability, it would require the Fed to monitor a full range of asset prices including not only goods and services, but also the price of gold and the foreign exchange value of the dollar.

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