Economics Question- Failure of the Gold Standard Program

Economics Question- Failure of the Gold Standard Program

In the paper “The Gold Standard and the Great Depression” by Temin and Eichengreen (on blackboard), the authors argue that the gold standard “mentality” contributed to the severity of the great depression. Explain their argument. What do they mean by the mentality of the gold standard? What economic policies did the gold standard mentality support?

How, according to the authors, had political changes made such policies unworkable?

The Bretton Woods system was developed, in part, to address the failures of the gold standard, promote full employment, promote economic growth and restore the global trading system. What were some of the features of the Bretton Woods agreement and how did they promote these goals? According to Eichengreen’s account in Exorbitant Privilege, what proposals by Keynes did the US reject?

Requirements: 800 words.

Answer preview:

word limit:594