Relying on new statistical and archival material, this book tells the story of the operation of the international monetary system of the mid-nineteenth century. It seeks to explain how this system was able to weather the impact of the California and Australia gold discoveries. It shows how France contributed to global financial stability by standing ready to exchange silver from gold at a fixed rate - a consequence of its bimetallic system. This book also shows how France's decision to change its domestic monetary rules caused the emergence of the gold standard in 1873, and thus offers a new interpretation of the global monetary history of the nineteenth century.

The book brings together internationally respected specialists from economics, history and political science such as Harold James, Louis Pauly and Kenneth Moure. First providing a short history of money doctors, the book then goes on to cover such themes as:
*the IMF and policy advice
*the Russian experience
*contemporary money doctors.
The book shows that there is still a long way to go before international financial advice develops into something that is truly helpful in the long term.

The book brings together internationally respected specialists from economics, history and political science such as Harold James, Louis Pauly and Kenneth Mouré. First providing a short history of money doctors, the book then goes on to cover such themes as:
*the IMF and policy advice
*the Russian experience
*contemporary money doctors.
The book shows that there is still a long way to go before international financial advice develops into something that is truly helpful in the long term.

Since the successful first edition of The Gold Standard in Theory and History was published in 1985, much new research has been completed. This updated version contains five new essays including:
* post 1990 literature on exchange rate target zones
* a discussion of the light shed by the gold standard on the European Monetary Union debate
* a new introduction by Eichengreen with Marc Flandreau
This will be an invaluable resource for students of macroeconomics, international economics and economic history at all levels.

Since the successful first edition of The Gold Standard in Theory and History was published in 1985, much new research has been completed. This updated version contains five new essays including:
* post 1990 literature on exchange rate target zones
* a discussion of the light shed by the gold standard on the European Monetary Union debate
* a new introduction by Eichengreen with Marc Flandreau
This will be an invaluable resource for students of macroeconomics, international economics and economic history at all levels.

The essays, written by leading experts, examine the history of the international financial system in terms of the debate about globalization and its limits. In the nineteenth century, international markets existed without international institutions. A response to the problems of capital flows came in the form of attempts to regulate national capital markets (for instance through the establishment of central banks). In the inter-war years, there were (largely unsuccessful) attempts at designing a genuine international trade and monetary system; and at the same time (coincidentally) the system collapsed. In the post-1945 era, the intended design effort was infinitely more successful. The development of large international capital markets since the 1960s, however, increasingly frustrated attempts at international control. The emphasis has shifted in consequence to debates about increasing the transparency and effectiveness of markets; but these are exactly the issues that already dominated the nineteenth-century discussions.

Throughout their long history, the primary concern of central banks has oscillated between price stability in normal times and financial stability in extraordinary times. In the wake of the recent global financial crisis, central banks have been given additional responsibilities to ensure financial stability, which has sparked intense debate over the nature of their role. Bankers and policy makers face an enormous challenge finding the right balance of power between the central bank and the state. This volume is the result of an international conference held at Norges Bank (the central bank of Norway). International experts and policy makers present research and historical analysis on the evolution of the central bank. They specifically focus on four key aspects: its role as an institution, the part it plays within the international monetary system, how to delineate and limit its functions, and how to apply the lessons of the past two centuries.

Uncovering strange plots by early British anthropologists to use scientific status to manipulate the stock market, Anthropologists in the Stock Exchange tells a provocative story that marries the birth of the social sciences with the exploits of global finance. Marc Flandreau tracks a group of Victorian gentleman-swindlers as they shuffled between the corridors of the London Stock Exchange and the meeting rooms of learned society, showing that anthropological studies were integral to investment and speculation in foreign government debt, and, inversely, that finance played a crucial role in shaping the contours of human knowledge. Flandreau argues that finance and science were at the heart of a new brand of imperialism born during Benjamin Disraeli's first term as Britain's prime minister in the 1860s. As anthropologists advocated the study of Miskito Indians or stated their views on a Jamaican rebellion, they were in fact catering to the impulses of the stock exchange--for their own benefit. In this way the very development of the field of anthropology was deeply tied to issues relevant to the financial market--from trust to corruption. Moreover, this book shows how the interplay between anthropology and finance formed the foundational structures of late nineteenth-century British imperialism and helped produce essential technologies of globalization as we know it today.

Throughout their long history, the primary concern of central banks has oscillated between price stability in normal times and financial stability in extraordinary times. In the wake of the recent global financial crisis, central banks have been given additional responsibilities to ensure financial stability, which has sparked intense debate over the nature of their role. Bankers and policy makers face an enormous challenge finding the right balance of power between the central bank and the state. This volume is the result of an international conference held at Norges Bank (the central bank of Norway). International experts and policy makers present research and historical analysis on the evolution of the central bank. They specifically focus on four key aspects: its role as an institution, the part it plays within the international monetary system, how to delineate and limit its functions, and how to apply the lessons of the past two centuries.

The essays in this book examine the long history of the international financial system in terms of the current debate about globalization and its limits. In the nineteenth century, international markets existed without international institutions. In the interwar years, attempts (largely unsuccessful) at designing a genuine international trade and monetary system were made at the same time (coincidentally) that the system collapsed. In the post-1945 era, the intended design effort was infinitely more successful. The development of large international capital markets since the 1960s, however, increasingly frustrated attempts at international control.

Uncovering strange plots by early British anthropologists to use scientific status to manipulate the stock market, Anthropologists in the Stock Exchange tells a provocative story that marries the birth of the social sciences with the exploits of global finance. Marc Flandreau tracks a group of Victorian gentleman-swindlers as they shuffled between the corridors of the London Stock Exchange and the meeting rooms of learned society, showing that anthropological studies were integral to investment and speculation in foreign government debt, and, inversely, that finance played a crucial role in shaping the contours of human knowledge. Flandreau argues that finance and science were at the heart of a new brand of imperialism born during Benjamin Disraeli's first term as Britain's prime minister in the 1860s. As anthropologists advocated the study of Miskito Indians or stated their views on a Jamaican rebellion, they were in fact catering to the impulses of the stock exchange--for their own benefit. In this way the very development of the field of anthropology was deeply tied to issues relevant to the financial market--from trust to corruption. Moreover, this book shows how the interplay between anthropology and finance formed the foundational structures of late nineteenth-century British imperialism and helped produce essential technologies of globalization as we know it today.