Download or read book A Tract on Monetary Reform written by John Maynard Keynes and published by Cosimo Classics. This book was released on 1923 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The long run is a misleading guide to current affairs. In the long run we are all dead." -John Maynard Keynes, A Tract on Monetary Reform (1923) A Tract on Monetary Reform (1923), by British economist John Maynard Keynes, is a masterly analysis of the world monetary situation at the beginning of the twentieth century. Keynes stated the importance of stable domestic prices and a stable currency for a strong economy, while arguing against the gold standard, which at that time was used for the US dollar and many other currencies. Britain abandoned the gold standard in 1931-after it had re-established it in 1925-and the United States abandoned the gold standard in 1933. A Tract on Monetary Reform is essential reading for anyone interested in Keynes' theories and for students of economics or economic history.
Download or read book The True Gold Standard written by Lewis E. Lehrman and published by The Lehrman Institute. This book was released on 2011-10-05 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: Of the monetary reform plan -- Introduction -- The purpose of The True Gold Standard -- The properties of gold -- Restoration of the gold dollar -- How we get from here to there -- Conclusion -- Appendix I: Excerpts from the United States Constitution -- Appendix II: Coinage Act of 1792 -- Appendix III: American monetary history in brief, price stability.
Download or read book The Need for Currency Reform written by American Academy of Political and Social Science and published by . This book was released on 1911 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Destabilizing the Global Monetary System Germany s Adoption of the Gold Standard in the Early 1870s written by Mr.Johannes Wiegand and published by International Monetary Fund. This book was released on 2019-02-15 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1871-73, newly unified Germany adopted the gold standard, replacing the silver-based currencies that had been prevalent in most German states until then. The reform sparked a series of steps in other countries that ultimately ended global bimetallism, i.e., a near-universal fixed exchange rate system in which (mostly) France stabilized the exchange value between gold and silver currencies. As a result, silver currencies depreciated sharply, and severe deflation ensued in the gold block. Why did Germany switch to gold and set the train of destructive events in motion? Both a review of the contemporaneous debate and statistical evidence suggest that it acted preemptively: the Australian and Californian gold discoveries of around 1850 had greatly increased the global supply of gold. By the mid-1860s, gold threatened to crowd out silver money in France, which would have severed the link between gold and silver currencies. Without reform, Germany would thus have risked exclusion from the fixed exchange rate system that tied together the major industrial economies. Reform required French accommodation, however. Victory in the Franco-Prussian war of 1870/71 allowed Germany to force accommodation, but only until France settled the war indemnity and regained sovereignty in late 1873. In this situation, switching to gold was superior to adopting bimetallism, as it prevented France from derailing Germany’s reform ex-post.
Download or read book Where Does Money Come From written by Josh Ryan-Collins and published by . This book was released on 2014-01-31 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on detailed research and consultation with experts, including the Bank of England, this book reviews theoretical and historical debates on the nature of money and banking and explains the role of the central bank, the Government and the European Union. Following a sell out first edition and reprint, this second edition includes new sections on Libor and quantitative easing in the UK and the sovereign debt crisis in Europe.
Download or read book Russian Currency and Finance written by Steve H. Hanke and published by Psychology Press. This book was released on 1993 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the new Russian state struggles with the transition to a market economy, the need for radical monetary reform becomes increasingly urgent. The choice of reform is crucial, for it will largely determine Russia's future economic performance. In order to break free of the lingering effects of Soviet central planning, the new Russian state needs a stable, convertible currency. Steve H. Hanke, Lars Jonung and Kurt Schuler propose that Russia establishes a currency board which would issue a Russian currency fully convertible with international currency, backed 100 per cent by international bonds. The international community would aid in establishing the currency board by providing the initial reserves. Early supplies of this new Russian currency would be distributed free to Russian citizens. The authors give detailed explanations of how the currency board could be established and how it would work.
Download or read book The Chicago Plan Revisited written by Mr.Jaromir Benes and published by International Monetary Fund. This book was released on 2012-08-01 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.
Download or read book Modern Currency Reforms written by Edwin Walter Kemmerer and published by . This book was released on 1916 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Free Banking and Monetary Reform written by David Glasner and published by Cambridge University Press. This book was released on 1989-08-25 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book boldly challenges the conventional view that the state must play a dominant role in the monetary system.
Download or read book The World Monetary System written by Michael Posner and published by Princeton, N.J. : International Finance Section, Princeton University. This book was released on 1972 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Money Changes Everything written by William N. Goetzmann and published by Princeton University Press. This book was released on 2017-08-15 with total page 598 pages. Available in PDF, EPUB and Kindle. Book excerpt: "[A] magnificent history of money and finance."—New York Times Book Review "Convincingly makes the case that finance is a change-maker of change-makers."—Financial Times In the aftermath of recent financial crises, it's easy to see finance as a wrecking ball: something that destroys fortunes and jobs, and undermines governments and banks. In Money Changes Everything, leading financial historian William Goetzmann argues the exact opposite—that the development of finance has made the growth of civilizations possible. Goetzmann explains that finance is a time machine, a technology that allows us to move value forward and backward through time; and that this innovation has changed the very way we think about and plan for the future. He shows how finance was present at key moments in history: driving the invention of writing in ancient Mesopotamia, spurring the classical civilizations of Greece and Rome to become great empires, determining the rise and fall of dynasties in imperial China, and underwriting the trade expeditions that led Europeans to the New World. He also demonstrates how the apparatus we associate with a modern economy—stock markets, lines of credit, complex financial products, and international trade—were repeatedly developed, forgotten, and reinvented over the course of human history. Exploring the critical role of finance over the millennia, and around the world, Goetzmann details how wondrous financial technologies and institutions—money, bonds, banks, corporations, and more—have helped urban centers to expand and cultures to flourish. And it's not done reshaping our lives, as Goetzmann considers the challenges we face in the future, such as how to use the power of finance to care for an aging and expanding population. Money Changes Everything presents a fascinating look into the way that finance has steered the course of history.
Download or read book Reform of the International Monetary System and Internationalization of the Renminbi written by Ruogu Li and published by World Scientific. This book was released on 2015-11-09 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book argues that only by reforming the international monetary system can we prevent financial crises in the future and the internationalization of the Renminbi, China's national currency, will be an important step in the process. Just as the old saying goes, "An old building needs to be demolished before a new one can be erected in its place," there will be no construction without destruction. The commencement of the dismantling of the old monetary system is also the beginning of the construction of the new one. Contrary to Western rhetoric, which portrays China as part of the cause of the recent financial crisis, the author contends that China is actually a victim of the current unjust international economic and monetary system. To address the imbalance and break the dollar-dominated international monetary system, the author calls for the internationalization of the Renminbi and diversification of the international monetary system. Written by one of the foremost financial practitioners in China, this book is thought-provoking and provides a unique Chinese perspective on how the international monetary system should be reformed, what the future system should look like and the role China should play in the process. It is a required reading for anyone interested in understanding China's own vision in its rise in the global political, economic and financial systems."--
Download or read book Macroeconomic Adjustment written by Jeffrey M. Davis and published by International Monetary Fund. This book was released on 1992-01-15 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: IMF-supported adjustment programs aim to restore economic growth, while bringing about a sustainable balance of payments position. Achievement of these goals requires coordinated use of a variety of policy meansures, including monetary and fiscal, exchange rate, external debt management, and structural policies, which affect capacity use and productive potential. This book, edited by Jeffrey M. Davis, provides an introductory review of some of the policy issues in each of these areas.
Download or read book Money and the Mechanism of Exchange written by William Stanley Jevons and published by . This book was released on 1877 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regional Integration in West Africa written by Eswar Prasad and published by Brookings Institution Press. This book was released on 2021-07-13 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: " Assessing the potential benefits and risks of a currency union Leaders of the fifteen-member Economic Community of West African States (ECOWAS) have set a goal of achieving a monetary and currency union by late 2020. Although some progress has been made toward achieving this ambitious goal, major challenges remain if the region is to realize the necessary macroeconomic convergence and establish the required institutional framework in a relatively short period of time. The proposed union offers many potential benefits, especially for countries with historically high inflation rates and weak central banks. But, as implementation of the euro over the past two decades has shown, folding multiple currencies, representing disparate economies, into a common union comes with significant costs, along with operational challenges and transitional risks. All these potential negatives must be considered carefully by ECOWAS leaders seeking tomeet a self-imposed deadline. This book, by two leading experts on economics and Africa, makes a significant analytical contribution to the debates now under way about how ECOWAS could achieve and manage its currency union, andthe ramifications for the African continent. "
Download or read book The Great Wall of Money written by Eric Helleiner and published by Cornell University Press. This book was released on 2014-09-08 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: As an economic superpower, China has become an increasingly important player in the international monetary system. Its foreign exchange reserves are the largest in the world and its exchange rate policy has become a major subject of international economic diplomacy. The internationalization of the renminbi (RMB) raises critical questions in international policy circles: What kinds of power is China acquiring in international monetary relations? What are the priorities of the Chinese government? What explains its preferences? In The Great Wall of Money, a distinguished group of contributors addresses these questions from distinct perspectives, revealing the extent to which China’s choices, and global monetary affairs, will be shaped by internal political factors and affect world politics. The RMB is a likely competitor for the dollar in the next couple of decades; its emergence as an important international currency would have substantial effects on the balance of power between the United States and China. By illuminating the politics of China’s international monetary relations, this book provides a timely account of the global economy, the role of the renminbi in international relations, and the trajectory of China’s continuing ascendency in the coming decades.
Download or read book Parallel Currency Markets in Developing Countries written by International Monetary Fund and published by International Monetary Fund. This book was released on 1990-12-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper reviews recent theoretical and empirical developments in the analysis of informal currency markets in developing countries. The basic characteristics of these markets are highlighted, and alternative analytical models to explain them are discussed. The implications for exchange rate policy —including imposition of foreign exchange restrictions, devaluation, and unification of exchange markets— in countries with a sizable parallel market are also examined.
