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Bimetallism
An Economic And Historical Analysis
- Editore:
Cambridge University Press
- Collana:
- Studies In Macroeconomic History
- EAN:
9780521028936
- ISBN:
0521028930
- Pagine:
- 292
- Formato:
- Paperback
- Lingua:
- Inglese
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Descrizione Bimetallism
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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