A historical look at why Britain, at the time the center of the banking world, abandoned the Gold Standard. After WWI, it became harder for Britain to deflate its economy and incomes to compete in the world export markets and this nullified a key mechanism by which the Gold Standard operated. Eventually a run on the British pound caused the Bank of England to go off the Gold Standard.
Thank you for the videos. Great job!
dubnelso 2 months ago in playlist Uploaded videos
9:03 just say sticky wages. Employers don't pay less they just fire more, which does not plummet price level very far.
redarrowhead2 4 months ago
I must say I watched this video and was thoroughly impressed being a graduate student of economics myself. Couldn't help but think of information contained in Lords of Finance from your lecture. Excellent, are you by chance a professor or passionate about the subject?
getnbusy2nite 7 months ago