History can be a guide, but an untrustworthy guide. Use history, but always be aware that today is not a repeat of yesterday.
In regards the Great Depression the gold standard seems to be mostly responsible. The countries that left the gold standard first were the first to recover and those that delayed suffered longer. The USA is an interesting exception since Roosevelt revalued gold by fiat in 1933 which had the effect of getting the USA effectively off the gold standard and introducing inflation into a deflationary spiral.
In regards the Great Depression the gold standard seems to be mostly responsible. The countries that left the gold standard first were the first to recover and those that delayed suffered longer. The USA is an interesting exception since Roosevelt revalued gold by fiat in 1933 which had the effect of getting the USA effectively off the gold standard and introducing inflation into a deflationary spiral.