Using an inter-disciplinary and global approach this book examines the different roles gold played in the international economy from the late 19th century until today. It gives a complete and comprehensive overview of the many facets of the global gold market's organization from the extraction of this precious metal to its consumption.

Dated September 1993

This book presents the evolution of the international monetary system from the gold standard to the monetary system in force today. It adopts a political economy approach, emphasizing the economic and political conditions under which an international monetary system can come into existence and be maintained over time. This approach highlights how the gradual transition in the international context from commodity money to fiat money has been led by the need for greater elasticity of money supply and smooth adjustments. This transition, however, raises the issue of how to guarantee, over time, the value of a money devoid of intrinsic value. By presenting a historical evolution, the book explains how the existence of an international monetary system based on money without intrinsic value can only occur when a particular balance of power exists at the international level that allows for the production of trust in a fiat money. The book is a must-read for scholars, researchers, and students in the fields of economic history and international monetary economics, interested in better understanding the evolution of the international monetary system.

How did the Bank of England manage sterling crises? This book steps into the shoes of the Bank's foreign exchange dealers to show how foreign exchange intervention worked in practice. The author reviews the history of sterling over half a century, using new archives, data and unseen photographs. This book traces the sterling crises from the end of the War to Black Wednesday in 1992. The resulting analysis shows that a secondary reserve currency such as sterling plays an important role in the stability of the international system. The author goes on to explore the lessons the Bretton Woods system on managed exchange rates has for contemporary policy makers in the context of Brexit. This is a crucial reference for scholars in economics and history examining past and current prospects for the international financial system. This title is also available as Open Access on Cambridge Core.

Nothing set the world in motion like gold. Between the discovery of California placer gold in 1848 and the rush to Alaska fifty years later, the search for the precious yellow metal accelerated worldwide circulations of people, goods, capital, and technologies. A Global History of Gold Rushes brings together historians of the United States, Africa, Australasia, and the Pacific World to tell the rich story of these nineteenth century gold rushes from a global perspective. Gold was central to the growth of capitalism: it whetted the appetites of empire builders, mobilized the integration of global markets and economies, profoundly affected the environment, and transformed large-scale migration patterns. Together these essays tell the story of fifty years that changed the world.

Winner of the 2021 AHA John H. Dunning Prize Longlisted for the 2020 Cundill History Prize Named a Best Book of the Year by Nature, NPR, Library Journal, and Kirkus Reviews "A monument to a people and their land… an allegory of the world we have created." —Sven Beckert, author of Pulitzer Prize finalist Empire of Cotton: A Global History Floating Coast is the first-ever comprehensive history of Beringia, the Arctic land and waters stretching from Russia to Canada. The unforgiving territories along the Bering Strait had long been home to humans—the Inupiat and Yupik in Alaska, and the Yupik and Chukchi in Russia—before American and European colonization. Rapidly, these frigid lands and waters became the site of an ongoing experiment: How, under conditions of extreme scarcity, would modern ideologies of capitalism and communism control and manage the resources they craved? Drawing on her own experience living with and interviewing indigenous people in the region, Bathsheba Demuth presents a profound tale of the dynamic changes and unforeseen consequences that human ambition has brought (and will continue to bring) to a finite planet.