Keynes and the International Monetary System: Time for a Tabular Standard?

31 Pages Posted: 15 Jun 2018

See all articles by Leanne J. Ussher

Leanne J. Ussher

Institute for Advanced Sustainability Studies (IASS); Bard College

Armin Haas

Institute for Advanced Sustainability Studies

Klaus Topfer

Institute for Advanced Sustainability Studies (IASS)

Carlo Jaeger

GCF - Global Climate Forum e.V.; Beijing Normal University (BNU)

Date Written: July 14, 2015

Abstract

This paper discusses the proposals for a tabular standard in the late 19th and early 20th century, as the gold standard unraveled. In particular, we focus on Keynes’ use of the tabular standard in his own international monetary proposals and consider how sympathetic he was to this idea of linking the value of an international reserve currency to a broad index of primary commodities, weighted in terms of their value in international trade. We argue that such a tabular standard was Keynes’ ideal long run vision for anchoring the international monetary system, even post Bretton Woods.

Keywords: Tabular Standard, Commodity Standard, Keynes, Bancor, International Monetary Reform

JEL Classification: B31, E6, E5, F33, F5

Suggested Citation

Ussher, Leanne J. and Haas, Armin and Topfer, Klaus and Jaeger, Carlo, Keynes and the International Monetary System: Time for a Tabular Standard? (July 14, 2015). Available at SSRN: https://ssrn.com/abstract=3187554 or http://dx.doi.org/10.2139/ssrn.3187554

Leanne J. Ussher (Contact Author)

Institute for Advanced Sustainability Studies (IASS) ( email )

Berlinerstrasse 130
Potsdam
Germany

HOME PAGE: http://https://sites.google.com/site/leanneussher/

Bard College ( email )

Annandale-on-Hudson, NY 12504-5000
United States

Armin Haas

Institute for Advanced Sustainability Studies ( email )

Berlinerstrasse 130
Potsdam
Germany

Klaus Topfer

Institute for Advanced Sustainability Studies (IASS) ( email )

Berlinerstrasse 130
Potsdam
Germany

Carlo Jaeger

GCF - Global Climate Forum e.V. ( email )

Neue Promenade 6
Berlin, Berlin 10178
Germany

Beijing Normal University (BNU) ( email )

19 Xinjiekou Outer St
Haidian District
Beijing, Guangdong 100875
China

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