This book shows that the use of money transforms a market economy into a payment society where production and employment are subordinated to the logic of asset markets. Monetary policy emerged out of private banking business and was always exposed to the risk of losing credibility and reputation. The stability of key currency systems was based on different policy preferences. A simple game-theoretic macro model explains the working and the downfall of the gold standard, Bretton Woods and the European Monetary System. It is shown that waning willingness to accept foreign leadership in monetary policy affairs propelled the creation of the euro.
From Gold to Euro
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3.0 out of 5 stars
Interesting concepts, confusingly stated,
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This review is from: From Gold to Euro: On Monetary Theory and the History of Currency Systems (Hardcover)
This is a very extensive book, which I liked, but it is incredibly dense and not written very clearly (that may have something to do with its being translated from German). Thus, it can be a bit difficult to follow.
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Inside This Book
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First Sentence:
Economies which are characterized by private property of resources and market agents striving for their private interests typically create judicial and monetary systems which then cause the process of economic transactions to look much different compared to the often propagated idea of a direct exchange of goods and services. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
key currency systems, key currency country, paper money standard, monetary contracts, market agents, sterling assets, leading central bank, reserve target, external equilibrium, devaluation expectations, monetary restriction, expected devaluation, foreign central bank, monetary policy making, international gold standard, sterling notes, gold backing, metallic money, monetary economy, nominal anchor Key Phrases - Capitalized Phrases (CAPs): (learn more)
Bank of England, Bretton Woods, Banking Department, Peel's Act, United States, Banking School, Currency School, Issue Department, Banking Doctrine, John Maynard, Bullion Committee, Bagehot's Rule, Banque de France, Bill of Indemnity, First World War, John Law, Lord Overstone, Rules of the Game, Economic Outlook, Main Economic Indicators New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Economies which are characterized by private property of resources and market agents striving for their private interests typically create judicial and monetary systems which then cause the process of economic transactions to look much different compared to the often propagated idea of a direct exchange of goods and services. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
key currency systems, key currency country, paper money standard, monetary contracts, market agents, sterling assets, leading central bank, reserve target, external equilibrium, devaluation expectations, monetary restriction, expected devaluation, foreign central bank, monetary policy making, international gold standard, sterling notes, gold backing, metallic money, monetary economy, nominal anchor Key Phrases - Capitalized Phrases (CAPs): (learn more)
Bank of England, Bretton Woods, Banking Department, Peel's Act, United States, Banking School, Currency School, Issue Department, Banking Doctrine, John Maynard, Bullion Committee, Bagehot's Rule, Banque de France, Bill of Indemnity, First World War, John Law, Lord Overstone, Rules of the Game, Economic Outlook, Main Economic Indicators New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 86
books:
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- The Philosophy of Money by Georg Simmel on page 11, Back Matter (1), and Back Matter (2)
- John Maynard Keynes by D. E. Moggridge in Back Matter (1), Back Matter (2), and Back Matter (3)
- Maynard Keynes: An Economist's Biography by Donald Moggridge in Back Matter (1), Back Matter (2), and Back Matter (3)
- The Political Economy of Central Banking by Philip Arestis in Back Matter (1), Back Matter (2), and Back Matter (3)
- What is Money? (Routledge International Studies in Money and Banking) by John Smithin in Back Matter (1), Back Matter (2), and Back Matter (3)
See all 86 books this book cites
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