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A. C. Pigou and the ?Real Purpose? of the 1924-25 Committee on the Currency and Bank of England Note Issues

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  • Rog?ro Arthmar
  • Michael McLure

Abstract

Brian Reddaway has argued that the title for the Committee on the Currency and Bank Notes served as a smokescreen to hide its real purpose of advising the government on Britain?s return to gold. When A. C. Pigou was invited by Sir Otto Niemeyer to serve on that Committee, there was no mention of gold. Only the title of the Committee was mentioned in the letter. The objective of this study is to establish whether Pigou appreciated the real purpose of the Committee or whether he was misled by the title of the Committee that he was invited to serve on.

Suggested Citation

  • Rog?ro Arthmar & Michael McLure, 2016. "A. C. Pigou and the ?Real Purpose? of the 1924-25 Committee on the Currency and Bank of England Note Issues," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2016(1), pages 5-19.
    • Handle: RePEc:fan:spespe:v:html10.3280/spe2016-001001
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    References listed on IDEAS

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    1. Murray Milgate, 1983. "Keynes And Pigou On The Gold Standard And Monetary Theory," Contributions to Political Economy, Cambridge Political Economy Society, vol. 2(1), pages 39-48.
    2. Eichengreen, Barry, 1996. "Golden Fetters: The Gold Standard and the Great Depression, 1919-1939," OUP Catalogue, Oxford University Press, number 9780195101133.
    3. Dimsdale, N H, 1981. "British Monetary Policy and the Exchange Rate, 1920-1938," Oxford Economic Papers, Oxford University Press, vol. 33(0), pages 306-349, Supplemen.
    4. Peden, G. C., 2000. "The Treasury and British Public Policy 1906-1959," OUP Catalogue, Oxford University Press, number 9780198207078.
    5. Norikazu Takami, 2011. "Pigou on business cycles and unemployment: an anti-gold-standard view," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 18(2), pages 203-215.
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    More about this item

    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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