4 ms·
Question: why isn't gold the international reserve currency?
by VintageCool 13y ago
Question: why isn't gold the international reserve currency?
- parasubvert 13y agoChapters 1 and 2 of Karl Polanyi's The Great Transformation provide one popular theory as to why it collapsed around World War 1, from a cultural anthropology perspective. http://uncharted.org/frownland/books/Polanyi/POLANYI%20KARL%20-%20The%20Great%20Transformation%20-%20v.1.0.html http://uncharted.org/frownland/books/Polanyi/POLANYI%20KARL%... Liaquat Ahamed's _Lords of Finance: The Bankers Who Broke The World_ provides another congruent account, from a more detailed historical/economic perspective, as to why gold was abandoned. http://www.amazon.com/Lords-Finance-Bankers-Broke-World/dp/0143116800 http://www.amazon.com/Lords-Finance-Bankers-Broke-World/dp/0...