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The 100% money proposal of the 1930s: an avatar of the Currency School's reform ideas?
- Source :
- European Journal of the History of Economic Thought; Aug2021, Vol. 28 Issue 4, p577-598, 22p, 2 Black and White Photographs
- Publication Year :
- 2021
-
Abstract
- This paper argues that the 100% money proposal of the 1930s should not (as is often the case) simply be considered as an avatar, extended to deposit currency, of the Currency School's reform prescriptions. The English Bank Charter Act of 1844, indeed, conveyed a double rejection: it not only sought to divorce the issuing from the lending of money, but also to prevent all kind of monetary management, by enacting a specific issuing rule (the "currency principle") into law. The 100% money proposal, in contrast, was designed independently of any monetary policy recommendations, leaving open the debate of "rules versus discretion". [ABSTRACT FROM AUTHOR]
- Subjects :
- MONETARY policy
HARD currencies
EDUCATIONAL change
CHARTERS
Subjects
Details
- Language :
- English
- ISSN :
- 09672567
- Volume :
- 28
- Issue :
- 4
- Database :
- Complementary Index
- Journal :
- European Journal of the History of Economic Thought
- Publication Type :
- Academic Journal
- Accession number :
- 151331310
- Full Text :
- https://doi.org/10.1080/09672567.2020.1861045