Bimetallism: An Economic and Historical Analysis / Edition 1

Bimetallism: An Economic and Historical Analysis / Edition 1

by Angela Redish
     
 

ISBN-10: 0521570913

ISBN-13: 9780521570916

Pub. Date: 05/28/2012

Publisher: Cambridge University Press

This book presents a history of Western monetary systems and explains why the system was preferred to a gold standard before 1800. Professor Redish argues that the technological ability to issue fiduciary monies, and a commitment mechanism to prevent opportunistic governments changing the ratio between the currency and a unit of gold, were (frequently overlooked)

Overview

This book presents a history of Western monetary systems and explains why the system was preferred to a gold standard before 1800. Professor Redish argues that the technological ability to issue fiduciary monies, and a commitment mechanism to prevent opportunistic governments changing the ratio between the currency and a unit of gold, were (frequently overlooked) prerequisites for the emergence of the Classical gold standard. The simplicity of the gold standard, a monetary system where there is a fixed ratio between a weight of gold and a unit of currency, makes it an obvious focus for discussion of commodity money systems, and for contrasts with today's fiat money regimes.

Product Details

ISBN-13:
9780521570916
Publisher:
Cambridge University Press
Publication date:
05/28/2012
Series:
Studies in Macroeconomic History Series
Edition description:
New Edition
Pages:
288
Product dimensions:
5.98(w) x 8.98(h) x 0.83(d)

Table of Contents

Acknowledgements; 1. From the Carolingian penny to the Classical gold standard; 2. The mechanics of commodity money; 3. Bimetallism before the nineteenth century; 4. The issue of small-denomination coins; 5. Token coinage and the gold standard in the United Kingdom; 6. Transition to the gold standard in France; 7. Bimetallism in the United States; 8. Conclusions; References; Index.

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