By Michael Bordo, Anna Schwartz
It is a well timed evaluation of the most advantageous protecting the a hundred and ten years of its operation until eventually 1931, while Britain deserted it in the course of the melancholy. present dissatisfaction with floating charges of trade has spurred curiosity in a go back to a commodity normal. The stories during this quantity have been designed to realize a greater knowing of the historic most reliable, yet in addition they throw mild at the query of even if restoring it at the present time might support remedy inflation, excessive rates of interest, and coffee productiveness development.
The quantity incorporates a assessment of the literature at the classical most excellent; experiences the adventure with gold in England, Germany, Italy, Sweden, and Canada; and views on overseas linkages and the soundness of price-level developments less than the most efficient. The articles and commentaries mirror powerful, conflicting perspectives between hte contributors on problems with relevant financial institution habit, purchasing-power an interest-rate parity, self reliant financial rules, fiscal development, the "Atlantic economy," and tendencies in commodity costs and long term rates of interest. this can be a considerate and provocative ebook.
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Extra info for A Retrospective on the Classical Gold Standard, 1821-1931
Ford, Alec G. 1962. The gold standard, 1880-1914: Britain and Argentina. Oxford: Clarendon Press. Friedman, Milton, and Anna J. Schwartz. 1963. A monetary history ofthe United States, 1867-1960. Princeton: Princeton University Press. Jevons, William Stanley.  1884. A serious fall in the value of gold ... set forth. Reprint. In Investigations in currency and finance, ed. H. S. Foxwell. London: Macmillan. - - .  1884. An ideally perfect system of currency. Reprint. In Investigations in currency and finance.
Jevons, William Stanley.  1884. A serious fall in the value of gold ... set forth. Reprint. In Investigations in currency and finance, ed. H. S. Foxwell. London: Macmillan. - - .  1884. An ideally perfect system of currency. Reprint. In Investigations in currency and finance. See Jevons  1884. Marshall, Alfred.  1925. Memorials of Alfred Marshall. Ed. A. C. Pigou. Reprint. London: Macmillan. Michaely, Michael. 1971. The responsiveness of demand policies to balance ofpayments: Postwar patterns.
The issues they stressed included the balance-ofpayments adjustment mechanism, capital flows, and rules of the game. The balance-of-payments adjustment mechanism under the gold standard was reexamined from a Keynesian perspective by Ford, from a modern quantity-theory perspective by Friedman and Schwartz, and from the perspective of the monetary approach to the balance of payments by Williamson, Triffin, and McCloskey and Zecher. The role of capital flows was reexamined by Morgenstern and Bloomfield.