A Critique of the Gold Standard: 1st Edition (Hardback) book cover

A Critique of the Gold Standard

1st Edition

By H. L. Puxley


270 pages

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Originally published in 1933 this book discusses the inadequacy of ‘orthodox Gold Standard theory’ in the light of post-war monetary phenomena. In demonstrating that the Gold Standard had broken down the book explains that the Quantity Theory of Money is an inaccurate explanation of what happens over short periods and that the determining factor in the rise or fall of prices is the Velocity of Circulation. The book makes a plea for a workable Gold Standard operated by an international consortium of Central Banks.


"Written with a clearness and simplicity that are rare and refreshing…" The Times

Table of Contents

1. The Orthodox Theory of the Gold Standard 2. Gold Movements and the Price-Level 3. Central Bank Policies and the Quantity of Money 4. Central Bank Policies and International Capital Movements 5. War Debts, Reparations and Tariffs 6. The Dilemma 7. Towards a Workable Gold Standard 8. The Three Evil Genii Again 9. The World Bank

About the Series

Routledge Library Editions: The Gold Standard

Re-issuing 8 seminal volumes in the history of economics, originally published between 1930 and 1987, but which still have enduring validity, the volumes in this set byBarthold A. Butenschøn, Karl Gustav Cassel, G. D. H. Cole, Diane B. Kunz, H. L. Puxley, George F. Warren and Frank A. Pearson and Charles Morgan Webb:

  • Set the British political and financial crisis of 1931 in an international context


  • Provide a definitive account of an exciting episode in British politics


  • Discuss the inadequacy of ‘orthodox Gold Standard theory’ in the light of post-war monetary phenomena


  • Form an invaluable commentary on the monetary instability of these crucial years


  • Represent an influential study of the relationship between the prices of gold and other commodities

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economic Conditions
BUSINESS & ECONOMICS / Economic History
BUSINESS & ECONOMICS / Economics / General
BUSINESS & ECONOMICS / Economics / Comparative