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December22

What Was The Gold Standard?


From the article:

My normally extensive Economics Glossary does not have an entry on the gold standard, so we’ll have to look elsewhere for a definition. An extensive essay on the gold standard on The Encyclopedia of Economics and Liberty

defines the gold standard as “a commitment by participating countries to fix the prices of their domestic currencies in terms of a specified amount of gold.

http://economics.about.com/cs/money/a/gold_standard.htm

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Posted December 22, 2014 by Sue Says in category The Economy

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