Golden Fetters. The Gold Standard and the Great Depression, Barry Eichengreen. NBER Series on Long-term Factors in Economic. NBER WORKING PAPER SERIES. FETTERS OF GOLD AND PAPER. Barry Eichengreen. Peter Temin. Working Paper Golden Fetters: The Gold Standard and the Great Depression, Barry Eichengreen. Published in January by Oxford University Press in NBER.

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Other editions – View all Golden Fetters: Eichengreen’s mother is Lucille Eichengreena Holocaust survivor and author. There is no doubt From Wikipedia, the free encyclopedia. This book is definitely not an easy read; it contains a wealth of detail and makes an excellent reference. Even those who are not sympathetic to the arguments and conclusions of this book will agree that it is destined to be an important work for all future students of the gold standard. Classical, Early, and Medieval Poetry and Poets: Contentious material about living persons that is unsourced or poorly sourced must be removed immediatelyespecially if potentially libelous or harmful.

Through this work, Professor Eichengreen demonstrates how national histories can be knit together into a coherent analysis of the international crisis. References to this book Globalization and History: The gold standard also existed in the nineteenth century, of course, without exercising such debilitating effects ā€” the explanation for the contrast lies in the disintegration during and after World War I of the political and economic foundations of the prewar gold standard system.

Classical, Early, and Medieval Prose and Writers: Selected pages Title Page. For all these reasons, the international gold standard was a central factor in the worldwide Depression; recovery proved possible, for these same reasons, only after abandoning the gold standard. The Gold Standard and the Great Depression, Barry Eichengreen Abstract The gold standard and the Great Depression might appear to be two very different topics requiring two entirely separate books, and the attempt to combine them here reflects Barry Eichengreen’s conviction that the gold standard is the key to understanding the Depression.

This diagnosis was confirmed in when external shocks caused the Eurozone Crisis. It was the constraint preventing policy-makers from averting the failure of banks and containing the spread of financial panic. University Press Scholarship Online. To purchase, visit your preferred ebook provider. The goal is to show how the policies pursued, in conjunction with economic imbalances created by World War I, gave rise to the catastrophe that was the Great Depression.


The dual bases for the prewar system were the credibility of the official commitment to gold and international cooperation: He was a senior policy advisor to the International Monetary Fund in andalthough he has since been critical of the IMF.

Bibliographic Information Print publication date: Retrieved 1 February Effective international cooperation could in principle have permitted a worldwide monetary expansion despite gold standard constraints, but disputes over World War I reparations and war debts, and the insularity and inexperience of the Federal Reserve, among other factors, prevented this outcome.

This volume will remain the standard fettegs of the gold standard for many years to come.

Barry Eichengreen – Wikipedia

Publications Pages Publications Pages. Oxford University Press is a department of the University of Oxford. Sterilization of gold inflows by surplus countries [the USA and France], substitution of gold for foreign exchange reservesand runs on commercial banks all led to increases in the gold backing of money, and consequently to sharp unintended declines in national money supplies.

The gold standard was the mechanism transmitting destabilizing impulses from the United States to the rest of the world.

Golden Fetters: The Gold Standard and the Great Depression, – Oxford Scholarship

Read, highlight, and take notes, across web, tablet, and phone. It is also impressive in scope, providing a broad overview of the interwar international economy. Eichengreen has brought it back to the center of the story, which is where it belongs. For a variety of reasons, including among others a desire of the Federal Reserve to curb the US stock market boom, monetary policy in several major countries turned contractionary in the late ‘sā€”a contraction that was transmitted worldwide by the gold standard.

Both were eroded by the economic and political consequences of the Great War, and the decline in credibility rendered cooperation all the more vital ā€” when it was not forthcoming, economic crisis was inevitable. The great strength of Eichengreen’s historical analysis is his enormously wide knowledge of, and sympathy for, economic and political conditions in all the major countries concerned It explores the connections between the gold standard–the framework regulating international monetary affairs until and the Great Depression that broke out in The Populist Temptation Barry Eichengreen.


Gollden of California, Berkeley. This book attempts to fit all these elements together into a coherent portrait of economic policy and performance between the wars.

He has written a number of books on international monetary issues and economic history, including Elusive Stability: My library Help Advanced Book Search. He has written a number of books on international monetary issues and economic history, including Elusive Stability: Authors Affiliations are at time of print publication.

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. Eichengreen shows how economic policies, in conjunction with the imbalances created by World War I, gave rise to the global crisis of the tolden.

Wikiquote has quotations related to: Graciously written, vetters researched, organized He shows that the Depression did not automatically start with the stock market crash inand can only be understood as a stage in a sequence of events and as a political as well as an economic phenomenon. The book also provides a valuable perspective on the economic policies of the post-World War II period and their consequences.

This book offers a reassessment of the international monetary problems that led to the global economic crisis of the s. Please help by adding reliable sources. This book is available as part of Oxford Scholarship Online – view abstracts and keywords at book and chapter level.

Golden Fetters

Money has been devalued in some recent surveys of the international depression of the s. Views Read Edit View history. The gold standard of the s set the stage for the Depression of the s by heightening the fragility of the international financial system, and was the mechanism that transmitted the destabilizing impulse from the USA to the rest of the world and magnified barrry initial destabilizing ggolden it was the principal obstacle to Thieves of Book Row McDade.