All that Glitters Is Not Laissez-Faire
Review of The Gold Standard at the Turn of the Twentieth Century: Rising Powers, Global Money, and the Age of Empire, by Steven Bryan (New York: Columbia University Press, 2010)
… Until the outbreak of the First World War in 1914, the combination of new technology with the "classically liberal" … for gold in order to borrow on the London-centered world credit market, in order to expand their nation's … silver halted in 1873, gold deflated the economy (aiding creditors) after the issuance of fiat money "greenbacks" to …