No country in the world today operates on the gold standard. That might change if some Republican presidential candidates have their way.

Texas Sen. Ted Cruz reiterated his support for returning to the gold standard in this week's presidential debate. Kentucky Sen. Rand Paul has said the idea should be studied. Neurosurgeon Ben Carson alluded to the idea, saying, “We’ll have to tie our currency to something,” while former Arkansas Gov. Mike Huckabee advised, “Tie the dollar to something fixed and if it's not going to be gold,...