Of Gold and Paper Money

20 Pages Posted: 26 Sep 2018

See all articles by Jagjit S. Chadha

Jagjit S. Chadha

University of St. Andrews - School of Management

Date Written: September 2018


We consider the role of money as a means of payment, store of value and medium of exchange. I outline a number of quantitative and qualitative experiences of monetary management. Successful regimes have sprung up in a variety of surprising places, and been sustained with state (centralised) interventions. Although the link between state and money, and its standard of identity and account may be clear, particularly in earlier stages of economic development, the extent to which the state is widely felt to hold responsibility for ‘sound money’ is less clear in modern democracies, where there are many other public responsibilities implying ongoing trade‐offs.

Suggested Citation

Chadha, Jagjit S., Of Gold and Paper Money (September 2018). The Manchester School, Vol. 86, pp. 1-20, 2018. Available at SSRN: https://ssrn.com/abstract=3240874 or http://dx.doi.org/10.1111/manc.12242

Jagjit S. Chadha (Contact Author)

University of St. Andrews - School of Management ( email )

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St. Andrews, Fife KY16 9SS
United Kingdom
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HOME PAGE: http://www.st-andrews.ac.uk/economics/staff/pages/j.chadha.shtml

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