Here is a definitive conclusion:
Ask anyone who was earning a wage prior to Nixon's default on the currency (the end of sound money)
about how much they earned and how much their purchasing power was.
They will all tell you that they had money to burn even though the wages were miniscule.
Nowadays most people are just barely getting by; life was better with sound money.
Basically, their wages were in silver dollars, so one dollar was an ounce of silver (about $15-$17).
The value of labor has obviously been stolen from the workers by the debasing of the currency;
this is what happens in all slavery systems: over time the slaves are made to work harder for less.

As far as living standards, the Fed caused the Great Depression and the next crisis is just around the corner. Wealth has not "trickled down"; inequality and social mobility are important measures of the standard of living and these were clearly better during the sound money eras of the past.