Excerpt
Excerpt
Currency Politics: The Political Economy of Exchange Rate Policy. Jeffry Frieden, February 2014, Book. "Currencies and their values are central to the world economy. They affect international trade, investment, finance, migration, and travel. The prevailing exchange rate system often defines the international economic order. The gold standard, a global regime of fixed currencies that prevailed for over forty years before 1914, was so pivotal that the period is often known as the classical gold-standard era. After World War One, major governments were unable to adapt the currency order to changed conditions, and failed..." Link verified August 21, 2014