Notes and Discussions - The Memorable Events of the "Sterling Standard"
AbstractThe article is a commentary to Paul Einzig’s book The Comedy of the Pound Sterling. The article heavily criticizes British monetary policy after the flotation of the pound in September 1931. More generally, it takes a critical stance against the Gold Exchange Standard. The multicentral nature of the international financial system and the use of exchanges instead of gold in international settlements considerably worsened the world economic situation. Stronger cooperation between central banks, together with the restoration of a full-fledged Gold Standard and a sound fiscal policy are depicted as the only means to restore trust in the world markets and foster a durable recovery.
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Bibliographic InfoArticle provided by Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore in its journal Rivista Internazionale di Scienze Sociali.
Volume (Year): 119 (2011)
Issue (Month): 3/4 ()
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international economic policy; Einzig; Gold Exchange Standard;
Find related papers by JEL classification:
- B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
- F5 - International Economics - - International Relations, National Security, and International Political Economy
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