On Britain's Return to the Gold Standard: Was There a ‘Pigou–McKenna School’?

14 Pages Posted: 9 Jun 2016

See all articles by Rogério Arthmar

Rogério Arthmar

Universidade Federal do Espirito Santo

Michael McLure

University of Western Australia

Date Written: June 2016

Abstract

It is common to refer to the ‘Keynes–McKenna school’ in opposition to Britain's return to the gold standard. However, after considering A.C. Pigou's reading of Sir Reginald McKenna's testimony to the Chamberlain–Bradbury Committee and the influence of that reading on Pigou's draft of the Committee's report to the British government, the case is made for the ‘Pigou–McKenna school’ as a policy school that was supportive of a return to the gold standard but against doing so prematurely. This is perhaps more meaningful than reference to the ‘Keynes–McKenna school’, which incorrectly implies that McKenna was opposed to Britain returning to gold.

Suggested Citation

Arthmar, Rogério and McLure, Michael, On Britain's Return to the Gold Standard: Was There a ‘Pigou–McKenna School’? (June 2016). Economic Record, Vol. 92, pp. 1-14, 2016, Available at SSRN: https://ssrn.com/abstract=2791788 or http://dx.doi.org/10.1111/1475-4932.12240

Rogério Arthmar (Contact Author)

Universidade Federal do Espirito Santo ( email )

Rua Fernando Ferrari 514
Bairro Goiabeiras
Vitória, Espírito Santo 59075-910
Brazil

HOME PAGE: http://www.ufes.br

Michael McLure

University of Western Australia ( email )

Nedlands, Western Australia 6907
Australia

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