Financial Stability and Secure Currency in a Modern Context

Levy Economics Institute, Working Papers Series, No. 877, 2016

24 Pages Posted: 30 Nov 2016

See all articles by Jan A. Kregel

Jan A. Kregel

Bard College - The Levy Economics Institute

Date Written: November 28, 2016

Abstract

Against the background of modern-day monetary proposals, ranging from a return to the gold standard to the wholesale abolition of currency, this paper seeks to draw implications from David Ricardo’s Proposals for an Economical and Secure Currency for plans to reform the operation of central banks and extraordinary monetary policy. Although 200 years old, the “Ingot plan,” proposed during a period in which gold convertibility was suspended, appears to be applicable to modern monetary conditions and suggests possible avenues of reform.

Keywords: David Ricardo, Monetary Systems, Ingot Plan, Gold Standard

JEL Classification: B12, E42, N10

Suggested Citation

Kregel, Jan A., Financial Stability and Secure Currency in a Modern Context (November 28, 2016). Levy Economics Institute, Working Papers Series, No. 877, 2016, Available at SSRN: https://ssrn.com/abstract=2876630 or http://dx.doi.org/10.2139/ssrn.2876630

Jan A. Kregel (Contact Author)

Bard College - The Levy Economics Institute ( email )

Blithewood
Annandale-on-Hudson, NY 12504
United States
845-758-7700 (Phone)
845-758-1149 (Fax)

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