From Gold to the Ecu
The International Monetary System in Retrospect
By Leland B. Yeager
This article appeared in the Spring 1996 issue of The Independent Review
During its heyday the international gold standard ushered in an era of growing personal freedom and expectations of continued material progress, agreed economists as diverse as John Maynard Keynes and Benjamin M. Anderson. Then, beginning in the 1920s and continuing through the Bretton Woods era, the intrusions of government regulation and monetary devaluation fostered decades of economic stagnation, financial instability, and international conflict.
|Other Independent Review articles by Leland B. Yeager|
|Summer 2000||The Collected Works of James M. Buchanan. Volume 1, The Logical Foundations of Constitutional Liberty|
|Summer 1997||Utilitarianism As a Public Philosophy|