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A Hidden Virtue of the Gold Standard

In: The Case for a New ECU

Author

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  • Jacques Riboud

Abstract

Not far from New York, on top of a wooded hill overlooking the Hudson river, stands a vast manor house, known as Arden House, which was built by Averill Harriman at the end of the last century, at a time when untrammelled capitalism made it possible for captains of industry to live like kings in that model democracy, the United States of America. The branch-line which in those days used to link the manor to the main line of the Pennsylvania Railroad, down in the valley, has disappeared, replaced by a common-or-garden road for the use of buses and coaches. The manor house and the extensive grounds in which it stands were donated by Harriman’s children to Columbia University, and the latter makes them available to companies and associations for the purpose of organising seminars in an atmosphere of solitude which is suitably conducive to reflection.

Suggested Citation

  • Jacques Riboud, 1989. "A Hidden Virtue of the Gold Standard," Palgrave Macmillan Books, in: The Case for a New ECU, chapter 9, pages 86-91, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-09730-2_9
    DOI: 10.1007/978-1-349-09730-2_9
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