Notes and Discussions - The Memorable Events of the ‘‘Sterling Standard’’

Name: Notes and Discussions - The Memorable Events of the ‘‘Sterling Standard’’
Brand: Vita e Pensiero
Price: 6.00 EUR
Availability: OnlineOnly

digital

Article

Magazine

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI

Issue

RIVISTA INTERNAZIONALE DI SCIENZE SOCIALI - 2011 - 3-4

Title

Notes and Discussions - The Memorable Events of the ‘‘Sterling Standard’’

Author

Serafino Majerotto

Publisher

Vita e Pensiero

Format

Article |

Pdf

Pages

Online from

03-2011

Issn

0035-676X (print) | 1827-7918 (digital)

€ 6.00

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Description

The 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.

Key words: international economic policy; Einzig; Gold Exchange Standard. JEL Classification: B2, F5.