By Michael D. Bordo

This booklet incorporates a number of Michael D. Bordo's essays written singly and with colleagues at the classical most beneficial and similar regimes established without delay or in some way on gold convertibility. The highest quality (and its versions) was once the root for either overseas and household financial preparations from the 3rd region of the 19th century till 1971 while President Nixon closed the united states gold window, successfully finishing the Bretton Woods foreign financial process. even though the best and its variations are actually heritage, it nonetheless has nice charm for policymakers and students.

Show description

Read Online or Download The Gold Standard and Related Regimes: Collected Essays (Studies in Macroeconomic History) PDF

Best money & monetary policy books

Developing Government Bond Markets: A Handbook

This instruction manual provides an outline of the key coverage issues for constructing a central authority securities industry. It additionally bargains an in depth description of the coverage concerns, together with concerns for implementation. This guide covers such issues because the linkages with funds markets and fiscal coverage operations, regulations had to advance an issuing procedure, debt-management concerns to construct credibility, and the reforms essential to advertise institutional funding.

A Program For Monetary Stability

Publication by way of Friedman, Milton

Marx on money

The republication of Suzanne de Brunhoff’s vintage research into Karl Marx’s notion of “the cash commodity” shines mild on commodities and their fetishism. The research of cash because the crystallization of price in its fabric experience is vital to how we comprehend capitalism and the way it may be abolished.

The Social Origins of Human Rights: Protesting Political Violence in Colombia’s Oil Capital, 1919–2010

Human rights activism is frequently linked to overseas businesses that try and have an effect on the habit of abusive states all over the world. In Barrancabermeja, Colombia, argues Luis van Isschot within the Social foundation of Human Rights, the fight for rights has emerged extra organically and in the community, out of a protracted background of civil and social organizing.

Extra resources for The Gold Standard and Related Regimes: Collected Essays (Studies in Macroeconomic History)

Sample text

The gold standard has a self-equilibrating mechanism whereby shocks to the supply of or demand for monetary gold, which produce changes in the price level, are reversed via changes in gold production and shifts between monetary and non-monetary holdings of gold. An historical example of the operation of the commodity theory was the response to a technological advance in gold mining such as the invention of the cyanide process in the 1880s. The technical advance (assuming an initial equilibrium) - which permitted the extraction of gold from lower quality ores reduced the marginal cost of gold production below the exchange value (real price) of gold.

Chicago: University of Chicago Press. Sayers, R. S. (1957). Central Banking After Bagehot. Oxford: Clarendon Press. Scammell, W. M. (1965). " Yorkshire Bulletin of Economic and Social Research, 12:32-45. Schwartz, Anna J. (1982). " Journal of Money Credit and Banking. Part I. 14(4):538-551. Schwartz, Anna J. (1984). " In M. D. Bordo and A. J. ), A Retrospective on the Classical Gold Standard, 1821-1931. Chicago: University of Chicago Press. Triffin, Robert (1960). Gold and the Dollar Crisis. New Haven: Yale University Press.

Angell, a critic of Taussig, integrated the law of one price in the Gold standard: Traditional approach 45 relative price-specie-flow adjustment mechanism. Despite its critical approach, his work is classified as part of the Harvard-school studies. 4 Interwar critics After World War I, a number of writers considered the case for and against a return to the gold standard as it existed pre-World War I. Brown and Smit, accepting in the main the stylized facts of the gold standard as succinctly portrayed by the Cunliffe report (United Kingdom, Parliament [1918] 1979), assessed the gold standard as having been successful before World War I because it was a managed standard managed by London - and then documented the special institutional characteristics of the sterling standard.

Download PDF sample

Rated 4.29 of 5 – based on 49 votes