Gold Standard Fall by Amelia Scott

Gold Standard Fall examines the United States' pivotal 1933 decision to abandon the gold standard and its profound, lasting impact on the global economic order. The book explores the historical context of the gold standard, highlighting its role in international trade and investment, while also detailing its inherent vulnerabilities. This shift, intended as a domestic solution during the Great Depression, inadvertently triggered significant changes in international trade relationships and the evolution of monetary policy.

The book meticulously dissects the economic pressures within the U.S. during the Great Depression, which led President Roosevelt to sever the dollar's tie to gold. One key insight is how this decision fostered economic nationalism and contributed to a more volatile global financial system. By using macroeconomic data, policy documents, and contemporary accounts, the book challenges conventional narratives about the gold standard's demise, emphasizing the critical role of U.S. policy.

Structured in three parts, the book begins by introducing the gold standard and its history, then analyzes the factors influencing the U.S. decision and its immediate impact, and finally, examines the long-term consequences. It draws on primary sources like government documents and central bank records, along with quantitative analysis of trade flows and economic growth, to provide a comprehensive understanding of this critical turning point in economic history.