4min chapter

The "What is Money?" Show cover image

"Money: Free and Unfree" with George Selgin (WiM209)

The "What is Money?" Show

CHAPTER

What Was the Difference Between the Classical Gold Standard and World War Two?

The classical gold standard, didn't require a lot of co operation. There was no real central bank running that system. Central banks can really throw a wrench into what otherwise would be a well functioning international gold system. In 19 31, that was a big contribution to the international crisis. We think of it in america as having begun with the stock market crash in 19 21, and i did. But there were international developments that really gave it more momentum.

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