I've just reread Eichengreen and Temin, The Gold Standard and the Great Depression, which does a great job of showing how the "gold mentality" - what they call mentalite, with an accent - paralyzed policymakers. (The longer-form version, with more personal color, is Liaquat Ahamad's Lords of Finance.)
What E&T show is that circa 1930 [...:]
Published on March 27, 2009 10:12