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Talk:Gold standard

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This is an old revision of this page, as edited by Fresheneesz (talk | contribs) at 01:23, 23 August 2022 (→Reversion of my edit about disagreements with the view that the gold standard caused the great depression). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Revision as of 01:23, 23 August 2022 by Fresheneesz (talk | contribs) (→Reversion of my edit about disagreements with the view that the gold standard caused the great depression)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)
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To-do list for Gold standard: edit · history · watch · refresh · Updated 2019-02-05


Here are some tasks awaiting attention:
  • Cleanup : Brits section, some biased comments there.
  • NPOV : Neutralize Bias throughout article. Integrate the pro/con list for a more neutral point of view
  • Update : Replace cited articles 3 and 4 with a more recent survey to reflect current views. The current sources are from 2012, and thus cannot be used to represent current opinion. Alisa Ayn Rosenbaum (talk) 23:48, 5 February 2019 (UTC)
  • Verify : sources and quotes of the historical values of the amount of cash tied to a certain amount of gold per gram/kilogram. The source for the amount of £ for the UK pound is a bit dodgy since the source is not reputable nor has any address nor ISBN/page number.
A fact from this article was featured on Misplaced Pages's Main Page in the On this day section on March 18, 2004.


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This page has archives. Sections older than 90 days may be automatically archived by Lowercase sigmabot III when more than 5 sections are present.

Wiki Education Foundation-supported course assignment

This article was the subject of a Wiki Education Foundation-supported course assignment, between 14 January 2019 and 10 March 2019. Further details are available on the course page. Student editor(s): Alisa Ayn Rosenbaum.

Above undated message substituted from Template:Dashboard.wikiedu.org assignment by PrimeBOT (talk) 22:31, 16 January 2022 (UTC)

Dates of adoption of a gold standard

References

  1. Kindleberger, Charles P. (1993). A financial history of western Europe. Oxford: Oxford University Press. pp. M1 60–63. ISBN 0-19-507738-5. OCLC 26258644.
  2. Newton, Isaac, Treasury Papers, vol. ccviii. 43, Mint Office, 21 Sept. 1717.
  3. "The Gold Standard in Theory and History", BJ Eichengreen & M Flandreau
  4. The Pocket money book: a monetary chronology of the United States. Great Barrington, Massachusetts: American Institute for Economic Research. 2006. pp. 4–6. ISBN 0-913610-46-1. OCLC 75968548. {{cite book}}: |access-date= requires |url= (help)
  5. ^ Encyclopedia:. "Gold Standard | Economic History Services". Eh.net. Retrieved 2010-07-24.{{cite web}}: CS1 maint: extra punctuation (link)

English POV

Based on French franc, I gather that since 1800, France has been on the gold standard, using a bimetallic standard where silver was used for small change. Even timeline in the discussion fails to note that. Similarly, the Spanish real page indicates that Spain has been using a fixed gold equivalent for its currency since 1566, when the value of silver was also fixed. Can anyone improve the article, so that a reader could understand how did Newton's bimetallism innovated beyond the Spanish bimetallism, and why was the British pound more of a gold standard than the gold napoleons? As is, it seems the article was written with a British POV.

Advantages and Disadvantages

Within the advantages section there is this mention: Long-term price stability has been described as one of the virtues of the gold standard, but historical data shows that the magnitude of short run swings in prices were far higher under the gold standard.

This seems to be like a disadvantage. Plus it seems to already be mentioned as a disadvantage where it says: Although the gold standard brings long-run price stability, it is historically associated with high short-run price volatility.

I would recommend simply changing the phrase under advantages to say: "Long-term price stability has been described as one of the virtues of the gold standard" This phrase then naturally leads into the counter argument found within the disadvantage section.

As an overall recommendation for this article, the statements within the aforementioned sections seem highly subjective. To me, some of the disadvantages actually seemed like advantages lol. I would recommend making sure that each of these cited sources are clearly indicating an advantage or a disadvantage to the gold standard, and maybe even quoting the source or indicating whose opinion we are actually spouting.

In the lead it mentions: There is a consensus among economists that a return to the gold standard would not be beneficial, and most economic historians reject the idea that the gold standard "was effective in stabilizing prices and moderating business-cycle fluctuations during the nineteenth century.

Well, that's quite one sided, isn't it? No mention of the supporters? There are clearly other schools of thought that support the gold standard that are quite significant, as the article clearly brings out. Why no mention of them? As a kindly reminder see MOS:INTRO and WP:NPOV.

Artemaeus Creed (talk) 04:10, 2 April 2022 (UTC)

Return to gold standard

Apparently in May 2022 Russia tied the Ruble to gold. This was covered by Forbes magazine at https://www.forbes.com/sites/zengernews/2022/05/02/russias-move-to-gold-may-jolt-your-company/?sh=3fbdc7fb72e6

Other countries are supposedly also considering a similar move.

Perhaps someone knowledgeable on the topic could address these recent updates? — Preceding unsigned comment added by KenGoudsward (talk • contribs) 18:56, 9 June 2022 (UTC)

Reversion of my edit about disagreements with the view that the gold standard caused the great depression

User Thenightaway reverted my edit with the note:

> does not relate to the consensus view about the role of the gold standard

This is nonsensical. There is no reason my edit needs to relate to the consensus view. The purpose is to make it clear that it isn't a unanimous view. I have added multiple sources for this. Don't just delete things on wikipedia because you don't agree with it. Fresheneesz (talk) 20:50, 21 August 2022 (UTC)

Your addition of the line "but many disagree with this view" is not supported by the sources you're adding. Thenightaway (talk) 20:58, 21 August 2022 (UTC)
If that is your only concern, it could easily have been recorded. SPECIFICO talk 21:14, 21 August 2022 (UTC)
OK I had a closer look. There are not RS to support any statement at all about the gold standard, as far as I can tell. SPECIFICO talk 22:05, 21 August 2022 (UTC)
I think the statement that none of the sources that I included reliably support the very short clarifying statement I added deserves to have some reasoning given. One of my sources is David Wheelock, and economist at the St Louis Federal Reserve, and the source I referenced from him is published on their website. He says 'Economists continue to study the Great Depression because they still disagree on what caused it.' Thenightaway claims that the Journal of Business & Economic Policy is "predatory". I see no evidence of that, so it would be great if some could be supplied if its to be claimed that its not a reliable source.
I'm not inserting any extraordinary claim here, only the clarification that many economists disagree with the view that gold standard caused the great depression . There are other major schools of thought about the causes of the great depression, so its highly misleading to simply say "the idea that gold caused the great depression is the consensus view" without qualification. Ignoring other views because this is an article about the gold standard is not reasonable when considering the misleading quality of the current wording.
Furthermore, Thenightaway also reverted my edits improving the readability of the references in the source. This is just adding insult to injury and is completely inappropriate. Thenightaway, you are edging on edit warring. Edit warring is not acceptable on wikipedia. You should not have reverted my edits without attempting to engage in a discussion. And you certainly shouldn't have done it twice. You should be aware that doing this only a couple more times could earn you a temporary ban.
Fresheneesz (talk) 01:21, 23 August 2022 (UTC)
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