Currency Under War Communism: An Example of Gresham's Law?
This article covers the consequences of the Bolsheviks' coup d'état in 1917 for the Soviet monetary system. I argue that the episode illustrates Gresham's Law, as three different currencies made an appearance in the Russian economy. This monetary disorder is scarcely mentioned by Marx...
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2023 |
| País: | España |
| Institución: | Universidad Europea (UEM) |
| Repositorio: | ABACUS. Repositorio de Producción Científica |
| Idioma: | español |
| OAI Identifier: | oai:abacus.universidadeuropea.com:11268/12063 |
| Acceso en línea: | http://hdl.handle.net/11268/12063 |
| Access Level: | acceso abierto |
| Palabra clave: | Historia económica Comunismo Guerra |
| Sumario: | This article covers the consequences of the Bolsheviks' coup d'état in 1917 for the Soviet monetary system. I argue that the episode illustrates Gresham's Law, as three different currencies made an appearance in the Russian economy. This monetary disorder is scarcely mentioned by Marxist authors. It was a failure that would be mitigated by the subsequent New Economic Policy, an amendment to the Bolshevist War Communism programme of nationalisation and intervention in the economy. |
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