Golden Fetters. The Gold Standard and the Great Depression, Barry Eichengreen. NBER Series on Long-term Factors in Economic. Eichengreen, Barry J. Golden fetters: the gold standard and the Great. Depression, – /. Barry Eichengreen. p. cm. (NBER series on long‐term factors in. Barry Julian Eichengreen (born ) is an American economist who holds the title of George His best known work is the book Golden Fetters: The Gold Standard and the Great Depression, –, Oxford University Press,
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Tears of the Tree John Loadman. Third, did the removal of the gold standard in the s establish the preconditions necessary for recovery from the Great Depression?
Kindle Edition Verified Purchase. Eicjengreen shows how economic policies, in conjunction with the imbalances created by World War I, gave rise to the fettres crisis of the s. This volume will remain the eicnengreen history of the gold standard for many years to come.
Goolden writes successfully both for “the elusive general reader” p. Money has been devalued in some recent surveys of the international depression of the s. His detailed elaboration of the institutional struggles to reconstruct the pre-war financial system should be required reading for any interested in modern financial and economic history, and Eichengreen’s conclusions have only become more relevant since its original publication in the context of contemporary events.
How much faith do you put in gold? Pardee and Helen N. The gold standard of the s set the stage for the Depression of the s by heightening the fragility of the international financial system, and was the mechanism that transmitted the destabilizing impulse from the USA to the rest of the world and magnified that initial eichenbreen shock; it was the principal obstacle to offsetting action, and the binding constraint preventing policymakers from averting the failure of banks and containing the spread of financial panic.
University Press Scholarship Online. Retrieved from ” https: Because of the gold standard and the central role of US gold in propping it up via generous lending, American domestic policy decisions necessarily and directly impacted international policy decisions.
Golden Fetters: The Gold Standard and the Great Depression, – Oxford Scholarship
People hear “Great Depression” and automatically think about the New Deal. However it does contain important information for arguing with libertarian gold bugs. Contentious material about living persons that is unsourced or poorly sourced must be removed immediatelyespecially if potentially libelous or harmful. At the turn of the century, there was limited appreciation for the connection between monetary and fiscal policy and domestic employment, and even if there were, the groups most impacted by the decisions volden political marginalized.
Account Options Sign in. Item can be shipped within U. His most recent book goleen Hall of Mirrors: It was the constraint preventing policy-makers from averting the failure of banks and containing the spread of financial panic.
Subscriber Login Email Address. Toward the Tripartite Agreement. The book also provides a valuable perspective on the economic policies of fetterx post-World War II period and their consequences.
The main evidence Eichengreen adduces in support of this view is the fact that countries that abandoned the gold standard earlier saw their economies recover more quickly. Eichengreen reviews the basis of the interwar gold standard well, providing the reader with a solid background to understand how it differed from the classical gold standard before WWI, and how it operated in practice.
Monetary contractions in turn were strongly associated with falling fettera, output and employment. After the Bank of England went off of gold in the celebrated economist John Maynard Keynes famously quipped: Selected pages Title Page. This item is not eligible for international shipping. This biography of eichemgreen living person needs additional citations for verification. Both were eroded by the economic and political consequences of the Great War, and the decline in credibility rendered cooperation all the more vital — when it was not forthcoming, economic crisis was inevitable.
This book skillfully goes back and examines the gold fetrers role in being a major cause of the Depression AND the vehicle through which the Depression spread.
User Review – Flag as inappropriate Is there a better book about the gold standard?
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My library Help Advanced Book Search. A real pleasure to read, the work of a master economic historian. Fighting Chance Faye E.
Cornering the Market Susan V. Classical, Early, and Medieval World History: AmazonGlobal Ship Orders Internationally. He has written a number of books on international monetary issues and economic history, including Elusive Stability: See all 12 reviews.
Even those who are not sympathetic to the arguments eicyengreen conclusions of this book will agree that it is destined to be an important work for all future students of the gold standard.
Barry Eichengreen – Wikipedia
From Wikipedia, the free encyclopedia. First, it is superbly written and achieves its objective of being accessible to the general reader. He demonstrates that the gold standard fundamentally constrained the economic policies that were pursued and that it was largely responsible for creating the unstable economic environment on which those policies acted. Political economicseconomic history. The argument is that the gold standard fundamentally constrained economic policies, and that it was largely responsible for creating the unstable economic environment on which the policies acted.