Gold Standard: Historical Presense

Economics Economics Questions
1

Does anyone know of a book that explains the Gold Standard’s role in history? Not just for the US, but around the world as well. I would like to read a book that shows how the Gold Standard was used around the world, and how its application affects the countries.

Thanks,

Ross

2

Try the work by Joseph T. Saerno “Money: Sound and Unsound” published by the Mises Institute in 2010. It’s a comprehensive piece that has a section on gold standard.

3

Sorry mate, the last name is Salerno, sorry for the typo, best of luck, let’s chat later about how we transistion from the chaos of today to a gold standard in the future. I wonder if it is a two year transistion, or a ten year journey?

4

I persoanlly do not think we can go back to the gold standard and will have to use something else. Over the past few decades gold has become far too important as in the fields of electricity and nano-technology which will take large swaths of gold out of the money market and into production.

It would have to be a silver, or platinum standard or something. Something rare but that is not going to be used in production.

5

Why not? Gold was used before in jewelery while it was money, all this does is alter relative prices.

Also: Platinum- no go, used in fuel cells

And even if it is a gold standard, it may not be a Brenton-Woods style, but rather a free-floating rate, and like much earlier, gold was used for large transactions (think homes, cars, 60" plasma TV) and silver for small purchases (grocery store, gas)

Yes, I put modern stuff in, but it is more free floating and able to respond to demands, and even then, this will also push for more recyling of electonics, or what have you- because people would be willing to pay for them (like aluminium today)

6

“It would have to be a silver, or platinum standard or something.”

I’m pretty sure both silver and platinum (and any commodity really) are used in production. The fact that a potential commodity money might have other uses doesn’t mean it wouldn’t be viable as money. Only the market can determine that. Instead of imposing a standard, let the market work out what will be used as money.