Managing in a Global Economy Fall 2021
Lesson 6
Next assignment
Should we return to the
Gold Standard ?
1
Should we return to the Gold Standard ?
• We have now studied the gold standard: • As part of economic history • As part of prospective economic policy • We need to ask: • Was the gold standard good for the global
economy ?
• Is the gold standard a or the solution to the problems of the global economy today ?
2
Key themes!
• Gold standard as basis for fixed exchange rates • Gold standard as constraint on inflation • Gold standard as constraint on government
debt !
• But: • Gold standard as constraint on growth • Gold standard = fixed exchange rates = no
gradual adjustment !
3
- Slide 1
- Should we return to the Gold Standard ?
- Key themes!
Reflection Assignment
Read this article from the New York Times by Rick Perlstein on how historians of American conservatism failed to understand the rise of Trump/ Trumpsim https://www.nytimes.com/2017/04/11/magazine/i-thought-i-understood-the-american-ri
Answer
What is Rick Perlstein's argument? Drawing from Perlstein, What are some of the ways that historians have understood American conservatism? What shaped their understanding? How did their understanding change? Why (does Perlstein argue) did they fail to understand the rise of Trumpism?
1-2 pages
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