Originally published in 1933 this book discusses the inadequacy of ‘orthodox Gold Standard theory’ in the light of post-war monetary phenomena. In demonstrating that the Gold Standard had broken down the book explains that the Quantity Theory of Money is an inaccurate explanation of what happens over short periods and that the determining factor in the rise or fall of prices is the Velocity of Circulation. The book makes a plea for a workable Gold Standard operated by an international consortium of Central Banks.
Table of Contents
1. The Orthodox Theory of the Gold Standard 2. Gold Movements and the Price-Level 3. Central Bank Policies and the Quantity of Money 4. Central Bank Policies and International Capital Movements 5. War Debts, Reparations and Tariffs 6. The Dilemma 7. Towards a Workable Gold Standard 8. The Three Evil Genii Again 9. The World Bank
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