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The Gold Standard Illusion: France, the Bank of France, and the International Gold Standard, 1914-1939 - Hardcover

 
9780199249046: The Gold Standard Illusion: France, the Bank of France, and the International Gold Standard, 1914-1939
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Did French gold policy cause the Great Depression? The Gold Standard Illusion draws on newly-available French records to test the gold standard interpretation of the Great Depression. It provides a history of French economic understanding, policy-making, and politics with regard to gold, monetary policy, and the key role of financial problems in political instability from 1914 to 1939.

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About the Author:

Born in Calgary AB on 31 March 1956. B.A. in Economics, University of Calgary (1980); M.A. in European History, SUNY at Stony Brook (1981); Ph.D. in European History, University of Toronto (1988). Currently Professor of History at UC Santa Barbara, where he has taught since 1989. Member of the School of Historical Studies, the Institute for Advanced Study, Princeton NJ, 1991-1993.
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"Provides the reader with a well-balanced, complete and up-to-date review of the literature.... very convincing."--EH-NET


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  • PublisherOxford University Press
  • Publication date2002
  • ISBN 10 0199249040
  • ISBN 13 9780199249046
  • BindingHardcover
  • Number of pages288
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Book Description Hardcover. Condition: new. Hardcover. Economic historians have established a new orthodoxy attributing the onset and severity of the Great Depression to the flawed workings of the international gold standard. This interpretation returns French gold policy to centre stage in understanding the origins of the Depression, its rapid spread, its severity and its duration. The Gold Standard Illusion exploits new archival resources to test how well this gold standard interpretation of the GreatDepression is sustained by historical records in France, the country most often criticized for hoarding gold and failure to play by the rules of the gold standard game. The study follows four lines of inquiry,providing a history of French gold policy in its national and international contexts from 1914 to 1939, an analysis of the evolution of the Bank of France during this period and the degree to which gold standard belief retarded the adoption of modern central banking practice, a re-examination of interwar central bank cooperation in the period and its role in the breakdown of the gold standard, and a study of how gold standard rhetoric fostered misperceptions of financial and monetaryproblems.The French case was exceptional, marked by absolute and tenacious faith in the gold standard, by the import and accumulation of a vast hoard of gold desperately needed as reservesto prevent monetary contraction abroad, and by adamant claims for the need to return to gold after most countries had left the gold standard, which had become, in the words of John Maynard Keynes, 'a curse laid upon the economic life of the world'. The Gold Standard Illusion explains French gold standard belief and policy, the impact of French policy at home and abroad, and reassesses the gold standard interpretation of the Great Depression in the light of Frenchexperience. Did French gold policy cause the Great Depression? The Gold Standard Illusion draws on newly-available French records to test the gold standard interpretation of the Great Depression. It provides a history of French economic understanding, policy-making, and politics with regard to gold, monetary policy, and the key role of financial problems in political instability from 1914 to 1939. This item is printed on demand. Shipping may be from multiple locations in the US or from the UK, depending on stock availability. Seller Inventory # 9780199249046

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