Ricardo and the Gold Standard
The Foundations of the International Monetary Order
Palgrave Macmillan (Publisher)
Published on 4. January 1991
Book
Hardback
180 pages
978-0-333-47559-1 (ISBN)
Description
The foundations of the monetary system which governed the world economies until the First World War were laid at the beginning of the 19th century. While the City was developing as the centre of the network of international payments, Ricardo was embarking on the task of understanding the main features of that world. With characteristic thoroughness and rigour he laid the basis of the international monetary system which became known as the Gold Standard. Its foundations rested on the belief that gold was the best monetary standard and on trust in the market rather than in the monetary authority to provide the guidance and the adjusting mechanism of the international monetary order. This book combines historical investigation and theoretical analysis to present the Ricardian approach and provides an updated assessment of these arguments in the light of modern experience.
More details
Language
English
Place of publication
Basingstoke
United Kingdom
Target group
College/higher education
Professional and scholarly
Illustrations
9ill.
Dimensions
Height: 222 mm
Width: 148 mm
Weight
370 gr
ISBN-13
978-0-333-47559-1 (9780333475591)
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Maria Cristina Marcuzzo | Annalisa Rosselli
Ricardo and the Gold Standard
The Foundations of the International Monetary Order
Book
06/1991
Palgrave Macmillan
€53.49
Shipment within 15-20 days
Persons
Content
Part 1 Ricardo's writings: gold, the exchnge rate and the quantity of money; the "Essay" and the "Proposals"; value and distribution; in Parliament. Part 2 Credit and currency: the English financial revolution; the banking system; currency circulation. Part 3 The value of money: the measure of the value of money; the invariable measure of value; absolute value and relative value of gold. Part 4 The quantity of money: alternative approaches; cost of production and equilibrium quantity of gold; the adjustment mechanisms of the quantity of money; price stability under the Gold Standard. Part 5 Trade and international finance: mercantile houses and merchant banks; the bill of exchange; subsidies; loans. Part 6 The gold market: international payments; the London gold market; the export and import of gold. Part 7 The Foreign Exchange market: the price of gold; the rate of exchange; the exchange rate between London and Hamburg. Part 8 The theory of the Gold Standard: the "Redundancy of Currency"; stable and unstable monetary regimes; stopping rule for gold movements; Ricardo's method. part 9 Ricardo and his time: gold as a commodity; the theory of unilateral transfer; market and money.