Golden Fetters: The Gold Standard and the Great Depression, 1919-1939

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Oxford University Press, May 7, 1992 - Business & Economics - 480 pages
This book offers a reassessment of the international monetary problems that led to the global economic crisis of the 1930s. It explores the connections between the gold standard--the framework regulating international monetary affairs until 1931--and the Great Depression that broke out in 1929. Eichengreen shows how economic policies, in conjunction with the imbalances created by World War I, gave rise to the global crisis of the 1930s. He demonstrates that the gold standard fundamentally constrained the economic policies that were pursued and that it was largely responsible for creating the unstable economic environment on which those policies acted. The book also provides a valuable perspective on the economic policies of the post-World War II period and their consequences.

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The Classical Gold Standard in Interwar Perspective
The Wartime Transition
Postwar Instability
The Legacy of Hyperinflation
Reconstructing the Facade
Crisis and Opportunity
Tentative Adjustments
The Dollar and the World Economic Conference
Toward the Tripartite Agreement

The Interwar Gold Standard in Operation
Cracks in the Facade

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About the author (1992)

Barry Eichengreen is the John L. Simpson Professor of Economics and Professor of Political Science at the University of California at Berkeley, and Research Associate of the National Bureau of Economic Research. He has written a number of books on international monetary issues and economic history, including Elusive Stability: Essays in the History of International Finance (1990).

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