"The Silver Standard" explores how silver once acted as a silent power, influencing global empires and economies, far preceding modern paper currency. The book highlights silver's critical role in shaping world commerce and monetary systems, examining its rise as a globally recognized store of value. One intriguing aspect is how silver's inherent qualities, like malleability and relative scarcity, made it perfect for coinage, driving trade and impacting political power. The book argues that silver was more than just a commodity; it was the linchpin of early globalization, connecting continents in unprecedented ways.
The book uses a global perspective connecting disparate regions and historical periods through silver. Beginning with the concept of commodity money, it progresses to analyzing specific historical periods and regions, detailing silver's production, distribution, and use in various economies. A key point is the examination of the Spanish silver boom in the Americas and its effects on Europe and Asia.
The book concludes by exploring the legacy of the silver standard, drawing parallels to current monetary policy debates and modern discussions about digital currencies.
