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Keynes and the international monetary system: Time for a tabular standard?

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  • Leanne J. Ussher
  • Armin Haas
  • Klaus Töpfer
  • Carlo C. Jaeger

Abstract

This paper discusses proposals for tabular standards in the late nineteenth and early twentieth centuries. In particular, we focus on Keynes’ proposal for an international tabular standard (ITS) as the gold standard unravelled in the 1930s. The paper explains the origins of Keynes’ ITS proposal which pegged the value of an international reserve to a broad index of primary commodities, weighted in terms of their value in world production. We argue that the ITS should be viewed as an important and enduring component of Keynes’ ideal long-run vision for anchoring the international monetary system, even post-Bretton Woods.

Suggested Citation

  • Leanne J. Ussher & Armin Haas & Klaus Töpfer & Carlo C. Jaeger, 2018. "Keynes and the international monetary system: Time for a tabular standard?," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 25(1), pages 1-35, January.
    • Handle: RePEc:taf:eujhet:v:25:y:2018:i:1:p:1-35
    DOI: 10.1080/09672567.2017.1365093
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    Cited by:

    1. Leanne Ussher & Laura Ebert & Georgina M. Gómez & William O. Ruddick, 2021. "Complementary Currencies for Humanitarian Aid," JRFM, MDPI, vol. 14(11), pages 1-30, November.
    2. Woods, John E, 2021. "Benjamin Graham on Buffer Stocks," OSF Preprints qdv3n, Center for Open Science.

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