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Empire, Industry, and Globalization: Rethinking the Emergence of the Gold Standard in the 19th‐century World
Author(s) -
Taylor Vurpillat J.
Publication year - 2014
Publication title -
history compass
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.121
H-Index - 1
ISSN - 1478-0542
DOI - 10.1111/hic3.12163
Subject(s) - empire , globalization , industrialisation , context (archaeology) , scholarship , modernization theory , gold standard (test) , situated , world history , political science , economy , development economics , history , economic history , economics , ancient history , archaeology , law , medicine , artificial intelligence , computer science
This state of the field essay surveys recent scholarship on the history of the international gold standard. Taken together, recent studies have re‐situated the emergence of the classical gold standard in historical context, emphasizing the rapidly changing world of 19th‐century globalization, industrialization, and imperialism. This work has significant implications for our understanding of the gold standard in world history. In particular, recent studies have placed new emphasis on non‐economic factors that led to the establishment of a truly international gold standard. Among these factors, the ambitions for empire and modernization among leaders in the non‐European world played a key role in the decline of regional monetary regimes based on silver or bimetallism and the emergence of the international gold standard in the late‐19th century.