The gold-standard return followed contemporary orthodoxy

An audience comment argues that Churchill's return to the gold standard after the First World War drained funds rather than strengthening the pound. The policy did contribute to Britain's difficulties, though Churchill was following what was then presented as the best economic advice available. That advice is judged terrible in retrospect, with the warning that economic decisions often look much clearer in hindsight. The exchange draws a useful distinction between a bad result and a decision that followed contemporary expert consensus.