Many insights of Menger are nowadays part of standard economics. Many more are preserved in the distinct school of Austrian economics. This applies particularly to the notions of foresight and the role of uncertainty.
The gold standard supposed a limit to the fiscal voracity of governments, and suspending it unleashed the perverse proclivity of the states toward indebtedness and to pass the current imbalances on to future generations.
Fifty years after Nixon closed the gold window, prices are heading toward 1970s-era increases. Yet the Fed cannot increase interest rates as long as the politicians keep creating billions of new debts.
Even at a "mere" two-percent level, cumulative price increases over time are nothing to scoff at. Even worse, if we look at what people really spend money on, price inflation doesn't much reflect the conclusions of "official" stats.