Gold, the Brains Trust, and Roosevelt

Sebastián Edwards

13 citations0/0 files storedHistory of Political Economy

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Monetary Policy and Economic Impact Global Financial Crisis and Policies Political and Economic history of UK and US

Abstract

In this article I revisit the period leading to the abandonment of the gold standard by the US government in 1933, and I investigate whether there was a preconceived plan to take the country off gold. My conclusion is that in 1932, during the primary and presidential campaigns, neither Roosevelt nor his influential inner circle, a group known as the Brains Trust, had very strong views on gold or the dollar. They did believe in the need to experiment, and tinkering with the currency was a possible area for experimentation, but it was an option with a low priority.

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References

1933The Modern Corporation and Private Property 2017A Monetary History of the United States, 1867-1960 1964A Monetary History of the United States 1867-1960 1933The Modern Corporation and Private Property 1964A Monetary History of the United States, 1867-1960 1924A Tract on Monetary Reform 1992Golden fetters: the gold standard and the Great Depression, 1919-1939 1911The purchasing power of money

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