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Financial Stability and Secure Currency in a Modern Context

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  • Jan Kregel

Abstract

Against the background of modern-day monetary proposals, ranging from a return to the gold standard to the wholesale abolition of currency, this paper seeks to draw implications from David Ricardo's "Proposals for an Economical and Secure Currency" for plans to reform the operation of central banks and extraordinary monetary policy. Although 200 years old, the "Ingot plan," proposed during a period in which gold convertibility was suspended, appears to be applicable to modern monetary conditions and suggests possible avenues of reform.

Suggested Citation

  • Jan Kregel, 2016. "Financial Stability and Secure Currency in a Modern Context," Economics Working Paper Archive wp_877, Levy Economics Institute.
    • Handle: RePEc:lev:wrkpap:wp_877
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    References listed on IDEAS

    as
    1. Ghislain Deleplace, 1994. "Aux origines de la pensée monétaire moderne," Revue Économique, Programme National Persée, vol. 45(5), pages 1125-1136.
    2. R. S. Sayers, 1953. "Ricardo's Views on Monetary Questions," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 67(1), pages 30-49.
    3. Maria Cristina Marcuzzo & Annalisa Rosselli, 1994. "The standard commodity and the standard of money," Cahiers d'Économie Politique, Programme National Persée, vol. 23(1), pages 19-31.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    David Ricardo; Monetary Systems; Ingot Plan; Gold Standard;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative

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