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Throughout the relevant 70 year timespan, Coke was priced in an environment of first, the gold standard, and second, Bretton Woods.

The USD was not fully disconnected from gold until 1971, which is after the timespan the article talks about.

beat me to comment the same thing - the gold standard. I don't understand why he question marked "real money", i think he thinks the paper money he holds is money and not gold. Let's wait a couple of years


You're right, I got the wrong impression from the podcast, which is stupid since I knew about the gold standard and price stability of the time.

As for the "scare quotes", I'm aware of the drawbacks of fiat money, but it's still money. Gold is just non-fiat money.


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