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In This Chapter
-
Britain's withdrawal from the gold standard
- Introduction
- The economics of the gold standard
- The return to gold
- Structurally flawed: “golden fetters” in the UK
- Gold and the Great Depression
- The impact of the suspension of gold on the British economy: “Nobody told us we could do that”
- The impact of Britain's suspension of gold on the world economy
- References
- Conclusions
Abstract
It is safe to predict that Monday, September 21, 1931, will become an historic date; the suspension of the gold standard in Great Britain on that day, after the six years of painful effort which followed this country's return to gold in 1925, marks the definite end of an epoch in the world's financial and economic development.
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