The Gold Standard and the Great Depression

  title={The Gold Standard and the Great Depression},
  author={Barry Eichengreen and Peter Temin},
  journal={Contemporary European History},
  pages={183 - 207}
This paper considers why political leaders and central bankers continued to adhere to the gold standard as the Great Depression intensified. We do not focus on the effects of the gold standard on the Depression, which have been documented elsewhere, but on the reasons why policy makers chose the policies they did. We argue that the mentality of the gold standard was pervasive and compelling to the leaders of the interwar economy. It was expressed and reinforced by the discourse among these… 

Inequality and the Interwar Gold Standard

  • Weinan Yan
  • Economics, History
    Eastern Economic Journal
  • 2021
Many economic historians have argued that adherence to the gold standard was an important obstacle to recovery from the Great Depression. It is therefore important to understand the factors that

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In this article, I show that Depression-era popular opposition to gold standard orthodoxy had an identifiable impact on New Deal policy. Popular pressure was rooted in a political-economic vision I

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The battle for Britain's gold standard in 1931

This unusually well-writtern study aims to set the British political and financial crisis of 1931 in an international context by concentrating on the bankers who were primarily responsible for

This is the famous debt-de¯ation view of the Depression of Irving Fisher

  • Econometrica
  • 1933

The more conventional ascription to Johnston appears in Moggridge, The Return to Gold

  • English History 1914±1945
  • 1965

75. Eventually, in the second half of 1932, the Bank saw the light. But even then, the old gold mentality continued to hold almost universal sway except in Great Britain

  • 1932

A Century of Bank Rate (London: Longman, Green, 1938), 145. To be sure, Hawtrey was not just any observer. He was Director of Financial Inquiries at HM Treasury throughout the period

    League of Nations, 1944), Appendix A. 66 The most in¯uential recent statement of this mechanism is Bernanke,`The Macroeconomics of the Great Depression

    • International Currency Experience

    Central Bank Cooperation

    • 1967