Significance of Gold standard
The term "gold standard" has distinct meanings in both historical and scientific contexts. In India’s historical framework, it refers to a monetary system where currency value is directly linked to gold, which is no longer in use but has implications for financial stability. In scientific terms, the gold standard represents the most accurate diagnostic test or method, serving as a benchmark for assessing the performance of other tests and treatments across various medical conditions, ensuring reliability in diagnostics.
Synonyms: Ideal, Reference point, Standard of excellence, Paragon, Criterion, Model, Touchstone
The below excerpts are indicatory and do represent direct quotations or translations. It is your responsibility to fact check each reference.
The concept of Gold standard in local and regional sources
The Gold standard refers to a monetary system in which currency values are directly pegged to gold, previously aimed at exchange stability but now considered outdated, contributing to financial rigidity and certain economic failures.
From: Triveni Journal
(1) This is a financial system that is no longer in use, but is keeping something in place and is the reason for the bankrupt orthodoxy.[1] (2) A monetary system where a country's currency or paper money has a value directly linked to gold.[2] (3) A monetary system where currency value is directly linked to gold, often aimed at achieving exchange stability.[3]
From: The Complete Works of Swami Vivekananda
(1) This refers to the financial system making the poor poorer and the rich richer, prompting the view that it is an oppressive system, which needs to be changed.[4]
The concept of Gold standard in scientific sources
The keyphrase "Gold standard" denotes the premier method for comparison across various fields, exemplified by GC-MS in forensic science and angiography in diagnosing uterine arteriovenous malformation due to their reliability and effectiveness.
From: The Malaysian Journal of Medical Sciences
(1) This term refers to the preferred method for diagnosing the condition by visual inspection, preferably confirmed by histological confirmation, which involves surgery.[5] (2) This is the most widely accepted and effective method, with cognitive behavioral therapy being identified as such in the field of psychotherapy.[6] (3) This term describes the excisional haemorrhoidectomy as the standard surgical treatment for haemorrhoid disease due to its lowest recurrence rate.[7] (4) Angiography is a gold standard investigation which usually essential in diagnosis, and pre-operative embolisation is considered mandatory for this procedure as it significantly reduces blood during surgery.[8] (5) This is the most established and widely accepted treatment method for a condition, such as surgical excision for lipomas, but it is associated with scarring.[9]