Silver and Gold: The Political Economy of International Monetary Conferences, 1867-1892

Silver and Gold: The Political Economy of International Monetary Conferences, 1867-1892

Silver and Gold: The Political Economy of International Monetary Conferences, 1867-1892

Silver and Gold: The Political Economy of International Monetary Conferences, 1867-1892

Synopsis

For many observers of international politics, the classical gold standard is the premier example of successful international monetary cooperation. Curiously, most studies portray this 19th century system as a spontaneous development. Reti, after a thorough investigation of diplomatic records, argues that the gold standard grew out of several years of international negotiation. Using theories of international regimes, he explains the roles of hegemonic power, domestic politics, and causal beliefs on conference diplomacy, and asserts that the classical gold standard can best be understood as a coordination game in which negotiations informed nations about how to cooperate.
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