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Bimetallism: An Economic and Historical Analysis

Bimetallism: An Economic and Historical Analysis

Paperback

Series: Studies in Macroeconomic History

EconomicsInvesting & Finance

ISBN10: 0521028930
ISBN13: 9780521028936
Publisher: Cambridge University Press
Published: Nov 2 2006
Pages: 292
Weight: 0.95
Height: 0.66 Width: 6.00 Depth: 9.00
Language: English
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.

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