A Tract on Monetary Reform

The long run is a misleading guide to current affairs. In the long run we are all dead.-John Maynard Keynes A Tract on Monetary Reform (1923)A Tract on Monetary Reform (1923) by British economist John Maynard Keynes is a masterly analysis of the world monetary situation at the beginning of the twentieth century. Keynes stated the importance of stable domestic prices and a stable currency for a strong economy while arguing against the gold standard which at that time was used for the US dollar and many other currencies. Britain abandoned the gold standard in 1931-after it had re-established it in 1925-and the United States abandoned the gold standard in 1933.A Tract on Monetary Reform is essential reading for anyone interested in Keynes theories and for students of economics or economic history.