Gold Standard
Gold Standard
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Summary of Gold Standard
A system under which a nation's currency is freely convertible into gold. The quantity of gold per unit of currency is fixed by law. Most major trading nations, however, abandoned the gold standard because of the constraints it imposes upon liquidity, although some interest has been expressed in its revival for precisely that reason, i.e., to control expansionary monetary policies.
(Main Author: William J. Miller)
History of the Gold Standard
The following commentary about Gold Standard in the Churchill Era is produced by the Churchill College (Cambridge): The gold standard is a monetary system in which the value of a currency is defined in terms of gold
. In 1925 Winston Churchill fixed at 4.80 dollars to the pound, a high rate that is now argued to have been damaging to British industry, as the pound became too strong for British exports, and general interest rates were also forced up.
Gold Standard in International Trade
Meaning of Gold Standard, according to the Dictionary of International Trade (Global Negotiator): A monetary agreement whereby all national currencies are backed 100% by gold and the gold is utilized for payment of foreign activity.
Concept of Gold Standard
An introductory definition of Gold Standard is provided here: the value of a currency is fixed relative to an amount of gold, can be converted to gold at a fixed rate (see also fixed exchange rates)
Resources
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See Also
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Foregin Policy
Foreign Affairs
Hierarchical Display of Gold standard
Finance > Monetary relations > International finance > International monetary system
Gold standard
Concept of Gold standard
See the dictionary definition of Gold standard.
Characteristics of Gold standard
Resources
Professional Content and Learning Tools
Lawi offers educational solutions and professional insight, integrating content, tools, and practical technology to promote lifelong learning, personal and professional improvement, and human progress through knowledge. Our collections feature resources and solutions from a wide range of subject areas, from management and finance to law and cybersecurity. This text is only a brief introduction. If you would like us to expand on this content, please let us know in the comments. If you’re finding our platform and newsletters valuable, share it with a colleague or friend, leave a comment and consider subscribing if you haven’t already (thanks!). There are group discounts, gift options, and referral bonuses available.
Translation of Gold standard
Spanish: Patrón oro
French: étalon-or
German: Goldstandard
Italian: Sistema monetario aureo
Portuguese: Padrão-ouro
Polish: System waluty złotej
Thesaurus of Gold standard
Finance > Monetary relations > International finance > International monetary system > Gold standard
See Also
Including similar content viewed by others, in case you missed it:
Gold ingot standard