Nicholas Kaldor as Advocate of Commodity Reserve Currency

A. G. Hart

Chapter 30 in Nicholas Kaldor and Mainstream Economics, 1991, pp 561-570 from Palgrave Macmillan

Abstract: Abstract Nicholas Kaldor is widely (and I think correctly) seen by economists as the most prominent and persuasive supporter of the proposal for an international Commodity Reserve Currency system (for short, ‘CRC’) in the second (post-German) generation of its advocates. He was very much aware of the work of the pioneers in the first generation — Benjamin Graham and Jan Goudriaan — and would not have countenanced any claim that he had founded a CRC movement. But he put CRC in the context of economic development problems, and made clear the essential fact that its logical form is not CRC monometallism but CRC/gold bimetallism.

Keywords: Buffer Stock; Primary Commodity; Tight Market; Sustainable Standard; Commodity Bundle (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-10947-0_30

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DOI: 10.1007/978-1-349-10947-0_30

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