1995 | OriginalPaper | Buchkapitel
Recent Developments in Bimetallic Theory
verfasst von : Stefan E. Oppers
Erschienen in: International Monetary Systems in Historical Perspective
Verlag: Palgrave Macmillan UK
Enthalten in: Professional Book Archive
Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.
Wählen Sie Textabschnitte aus um mit Künstlicher Intelligenz passenden Patente zu finden. powered by
Markieren Sie Textabschnitte, um KI-gestützt weitere passende Inhalte zu finden. powered by
After almost a century of neglect, the past few years have seen a revival of interest in bimetallism as a subject of study. Paradoxically, until a few years ago the monetary system that dominated the post-Medieval world had received little attention in the modern professional economic literature. Bimetallism had mostly been seen as an unstable precursor of the gold standard, subjecting economies to unnecessary — and possibly costly — periodic recoinages. The system’s interesting dynamics were usually summarised by a reference to Gresham’s Law, or ‘good money drives out bad money.’ Recently, a more sophisticated understanding of the system has emerged and its merits have been reappraised.