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How can Peter Crisp describe the LPC as the "gold standard"?

The point of the gold standard was to provide a single reliable unit of value. That stopped national governments from depreciating their currency, and made inflation virtually impossible. (It had downsides too of course.)

The LPC has by contrast given us massive grade inflation and inconsistent standards. It allows each institution to determine its own pass rates, much as non-gold standard governments can simply print money.

The exact opposite of the gold standard: that is the LPC.