European Monetary Union: Lessons from the Classical Gold Standard

Provides an analysis of the classical gold standard (1880-1914) - the nearest historical equivalent to what EC countries are attempting to do - in order to examine critically these and other issues raised in the debate. In the process, it destroys a number of myths about the gold standard and questions the adequacy of conditions which exist within the European Community for the success and long-term survival of the proposed monetary union. Problems are highlighted that need to be solved before EMU becomes viable. The author has also written National Management of the International Economy .