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Bimetalism
Bimetallism, also known as the bimetallic standard, is a monetary standard in which the value of the monetary unit is defined as equivalent to certain quantities of two metals, typically gold and silver, creating a fixed rate of exchange between them. For scholarly purposes, "proper" bimetallism is sometimes distinguished as permitting that both gold and silver money are legal tender in unlimited amounts and that gold and silver may be taken to be coined by the government mints in unlimited quantities. This distinguishes it from "limping standard" bimetallism, where both gold and silver are legal tender but only one is freely coined (e.g. the moneys of France, Germany, and the United States after 1873), and from "trade" bimetallism, where both metals are freely coined but only one is legal tender and the other is used as "trade money" (e.g. most moneys in western Europe from the 13th to 18th centuries). Economists also distinguish ''legal'' bimetallism, where the law guarantees ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Standard
A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold, effectively ending the Bretton Woods system. Many states nonetheless hold substantial gold reserves. Historically, the silver standard and bimetallism have been more common than the gold standard. The shift to an international monetary system based on a gold standard reflected accident, network externalities, and path dependence. Great Britain accidentally adopted a ''de facto'' gold standard in 1717 when Sir Isaac Newton, then-master of the Royal Mint, set the exchange rate of silver to gold too low, thus causing silver coins to go out of circulation. As Great Britain became the world's leading financ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Croeseid
The Croeseid, anciently ''Kroiseioi stateres'', was a type of coin, either in gold or silver, which was minted in Sardis by the king of Lydia Croesus (561–546 BC) from around 550 BC. Croesus is credited with issuing the first true gold coins with a standardised purity for general circulation, and the world's first bimetallic monetary system. Precedents Before Croesus, his father Alyattes had already started to mint various types of non-standardized coins. They were made in a naturally occurring material called electrum, a variable mix of gold and silver (with about 54% gold and 44% silver), and were in use in Lydia, its capital city Sardis and surrounding areas for about 80 years before Croesus' reign as King of Lydia. The unpredictability of electrum coins' composition implied that they had a variable value, which greatly hampered the development of standardised coinage. The royal symbol stamped on the coin, similar to a seal, was a declaration of the value of the contents in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alyattes Of Lydia
Alyattes (Lydian language: ; grc, wikt:Ἀλυάττης, Ἀλυάττης ; reigned c. 635-585 BC), sometimes described as Alyattes I, was the fourth king of the List of kings of Lydia#Mermnadae, Mermnad dynasty in Lydia, the son of Sadyattes, grandson of Ardys of Lydia, Ardys, and great-grandson of Gyges of Lydia, Gyges. He died after a reign of 57 years and was succeeded by his son Croesus. Alyattes was the first monarch who issued coins, made from electrum (and his successor Croesus was the first to issue gold coins). Alyattes is therefore sometimes mentioned as the originator of coinage, or of currency. Name The most likely etymology for the name derives it, via a form with initial digamma (), itself originally from a Lydian language, Lydian (Lydian alphabet: ). The name meant "lion-ness" (i.e. the state of being a lion), and was composed of the Lydian term (), meaning "lion", to which was added an abstract suffix (). Chronology Dates for the Mermnad kings are u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electrum
Electrum is a naturally occurring alloy of gold and silver, with trace amounts of copper and other metals. Its color ranges from pale to bright yellow, depending on the proportions of gold and silver. It has been produced artificially, and is also known as "green gold".Emsley, John (2003Nature's building blocks: an A–Z guide to the elements Oxford University Press. . p. 168 Electrum was used as early as the third millennium BC in Old Kingdom of Egypt, sometimes as an exterior coating to the pyramidions atop ancient Egyptian pyramids and obelisks. It was also used in the making of ancient drinking vessels. The first known metal coins made were of electrum, dating back to the end of the 7th century or the beginning of the 6th century BC. For several decades, the medals awarded with the Nobel Prize have been made of gold-plated green gold. Etymology The name "electrum" is the Latinized form of the Greek word ἤλεκτρον (''ḗlektron''), mentioned in the ''Odyssey' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ionia
Ionia () was an ancient region on the western coast of Anatolia, to the south of present-day Izmir. It consisted of the northernmost territories of the Ionian League of Greek settlements. Never a unified state, it was named after the Ionian tribe who had settled in the region before the Archaic period. Ionia proper comprised a narrow coastal strip from Phocaea in the north near the mouth of the river Hermus (now the Gediz), to Miletus in the south near the mouth of the river Maeander, and included the islands of Chios and Samos. It was bounded by Aeolia to the north, Lydia to the east and Caria to the south. The cities within the region figured large in the strife between the Persian Empire and the Greeks. Ionian cities were identified by mythic traditions of kinship and by their use of the Ionic dialect, but there was a core group of twelve Ionian cities who formed the Ionian League and had a shared sanctuary and festival at Panionion. These twelve cities were (from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lydia
Lydia (Lydian language, Lydian: 𐤮𐤱𐤠𐤭𐤣𐤠, ''Śfarda''; Aramaic: ''Lydia''; el, Λυδία, ''Lȳdíā''; tr, Lidya) was an Iron Age Monarchy, kingdom of western Asia Minor located generally east of ancient Ionia in the modern western Turkey, Turkish provinces of Uşak Province, Uşak, Manisa Province, Manisa and inland Izmir Province, Izmir. The ethnic group inhabiting this kingdom are known as the Lydians, and their language, known as Lydian language, Lydian, was a member of the Anatolian languages, Anatolian branch of the Indo-European languages, Indo-European language family. The capital of Lydia was Sardis.Rhodes, P.J. ''A History of the Classical Greek World 478–323 BC''. 2nd edition. Chichester: Wiley-Blackwell, 2010, p. 6. The Kingdom of Lydia existed from about 1200 BC to 546 BC. At its greatest extent, during the 7th century BC, it covered all of western Anatolia. In 546 BC, it became a province of the Achaemenid Empire, Achaemenid Persian Empire ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asia Minor
Anatolia, tr, Anadolu Yarımadası), and the Anatolian plateau, also known as Asia Minor, is a large peninsula in Western Asia and the westernmost protrusion of the Asian continent. It constitutes the major part of modern-day Turkey. The region is bounded by the Turkish Straits to the northwest, the Black Sea to the north, the Armenian Highlands to the east, the Mediterranean Sea to the south, and the Aegean Sea to the west. The Sea of Marmara forms a connection between the Black and Aegean seas through the Bosporus and Dardanelles straits and separates Anatolia from Thrace on the Balkan peninsula of Southeast Europe. The eastern border of Anatolia has been held to be a line between the Gulf of Alexandretta and the Black Sea, bounded by the Armenian Highlands to the east and Mesopotamia to the southeast. By this definition Anatolia comprises approximately the western two-thirds of the Asian part of Turkey. Today, Anatolia is sometimes considered to be synonymous with Asia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marc Flandreau
Marc or MARC may refer to: People * Marc (given name), people with the first name * Marc (surname), people with the family name Acronyms * MARC standards, a data format used for library cataloging, * MARC Train, a regional commuter rail system of the State of Maryland, serving Maryland, Washington, D.C., and eastern West Virginia * MARC (archive), a computer-related mailing list archive * M/A/R/C Research, a marketing research and consulting firm * Massachusetts Animal Rights Coalition, a non-profit, volunteer organization * Matador Automatic Radar Control, a guidance system for the Martin MGM-1 Matador cruise missile * Mid-America Regional Council, the Council of Governments and the Metropolitan Planning Organization for the bistate Kansas City region * Midwest Association for Race Cars, a former American stock car racing organization * Revolutionary Agrarian Movement of the Bolivian Peasantry (''Movimiento Agrario Revolucionario del Campesinado Boliviano''), a defunct right-wi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Milton Friedman
Milton Friedman (; July 31, 1912 – November 16, 2006) was an American economist and statistician who received the 1976 Nobel Memorial Prize in Economic Sciences for his research on consumption analysis, monetary history and theory and the complexity of stabilization policy. With George Stigler and others, Friedman was among the intellectual leaders of the Chicago school of economics, a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago that rejected Keynesianism in favor of monetarism until the mid-1970s, when it turned to new classical macroeconomics heavily based on the concept of rational expectations. Several students, young professors and academics who were recruited or mentored by Friedman at Chicago went on to become leading economists, including Gary Becker, Robert Fogel, Thomas Sowell and Robert Lucas Jr. Friedman's challenges to what he called "naive Keynesian theory" began with his interpretation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Angela Redish
Angela Redish is a professor of economics at the Vancouver School of Economics at the University of British Columbia and the acting President of the Canadian Economics Association. From 2001 to 2006, Redish served as the Head of Department of Economics at the University of British Columbia and was awarded The President's Medal of Excellence by the University of British Columbia in 2018 for her contributions towards establishing the Vancouver School of Economics. Education and work Redish was born in United Kingdom and moved to Hamilton, Ontario, Canada with her family during her teen years. She graduated from Wilfrid Laurier University having earned a B.A. in economics. Following this, she took a two-year break to work at Cuso International as a volunteer in Papua New Guinea. Upon returning to Canada, she received a Ph.D. from the University of Western Ontario. Shortly after, she joined the University of British Columbia as an assistant professor of economics at the Vancouver Sc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Allen & Unwin
George Allen & Unwin was a British publishing company formed in 1911 when Sir Stanley Unwin purchased a controlling interest in George Allen & Co. It went on to become one of the leading publishers of the twentieth century and to establish an Australian subsidiary in 1976. In 1990, Allen & Unwin was sold to HarperCollins and the Australian branch was the subject of a management buy-out. George Allen & Unwin in the UK George Allen & Sons was established in 1871 by George Allen, with the backing of John Ruskin, becoming George Allen & Co. Ltd. in 1911 and then George Allen & Unwin in 1914 as a result of Stanley Unwin's purchase of a controlling interest. Unwin's son Rayner S. Unwin and nephew Philip helped run the company, which published the works of Bertrand Russell, Arthur Waley, Roald Dahl, Lancelot Hogben, and Thor Heyerdahl. It became well known as J. R. R. Tolkien's publisher, some time after publishing the popular children's fantasy novel ''The Hobbit'' in 1937, and its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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