Morris Berman's Dark Ages America posits that the U.S. leaving the Bretton Woods agreement (of which devaluation relative to gold was one aspect) was the policy change desired by finance capitalism. Bretton Woods had restricted international capital flows and let nations restrain some abuses of financial power. In effect it made it easier for countries to set up welfare states if that's what they wanted. Afterwards, without these restraints, the top few percent in wealth were better able to use their money to make more money. The FIRE (finance, insurance, real estate) economy grew relative to the ordinary industrial, commerce, and service economy, in which lower- and middle-income people worked. Hence the growing inequality and relative impoverishment. I believe Berman says the discipline imposed by the semi-gold standard was only part of the reasons for prosperity from 1947-1970s. And for the big economic changes afterwards. Restraining abuses of globalism and financial capitalism were also important.