Definitions for gold standard
gold stan·dard

Princeton's WordNetRate this definition:0.0 / 0 votes

1. gold standardnoun

   a monetary standard under which the basic unit of currency is defined by a stated quantity of gold

2. gold standardnoun

   a paragon of excellence

   "academic education is the gold standard against which other educational activity is pejoratively judged"

WiktionaryRate this definition:0.0 / 0 votes

1. gold standardnoun

   A monetary system where the value of circulating money is linked to the value of gold.

2. gold standardnoun

   A test or measure of comparison that is considered ultimate or ideal.

WikipediaRate this definition:0.0 / 0 votes

1. 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 financial and commercial power in the 19th century, other states increasingly adopted Britain's monetary system.The gold standard was largely abandoned during the Great Depression before being re-instated in a limited form as part of the post-World War II Bretton Woods system. The gold standard was abandoned due to its propensity for volatility, as well as the constraints it imposed on governments: by retaining a fixed exchange rate, governments were hamstrung in engaging in expansionary policies to, for example, reduce unemployment during economic recessions.According to a survey of 39 economists, the majority (93 percent) agreed that a return to the gold standard would not improve price-stability and employment outcomes, and two-thirds of economic historians reject the idea that the gold standard "was effective in stabilizing prices and moderating business-cycle fluctuations during the nineteenth century." Nonetheless, according to economist Michael D. Bordo, the gold standard has three benefits: "its record as a stable nominal anchor; its automaticity; and its role as a credible commitment mechanism."

ChatGPTRate this definition:0.0 / 0 votes

1. gold standard

   The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold. Under this system, the government allows a standard conversion rate for gold, meaning currencies can be exchanged for certain amounts of gold. It was used globally for centuries to back the value of currencies. It ensures economic stability by preventing government from arbitrarily printing more money, thus controlling inflation. However, most countries have transitioned away from it in the 20th century.

WikidataRate this definition:0.0 / 0 votes

1. Gold standard

   The gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. Three types of gold standards may be distinguished. In the gold specie standard the monetary unit is associated with the value of circulating gold coins or the monetary unit has the value of a certain circulating gold coin, but other coins may be made of less valuable metal. The gold exchange standard usually does not involve the circulation of gold coins. The main feature of the gold exchange standard is that the government guarantees a fixed exchange rate to the currency of another country that does use a gold standard, regardless of what type of notes or coins are used as a means of exchange. This creates a de facto gold standard, where the value of the means of exchange has a fixed external value in terms of gold that is independent of the inherent value of the means of exchange itself. Finally, the gold bullion standard is a system in which gold coins do not circulate, but the authorities agree to sell gold bullion on demand at a fixed price in exchange for circulating currency. No country currently uses a gold standard as the basis of its monetary system, although most hold substantial gold reserves.

Suggested ResourcesRate this definition:0.0 / 0 votes

1. gold standard

   Read the full text of the Gold Standard poem by Kurt Philip Behm on the Poetry.com website.

Matched Categories

1. • Paragon
   • Standard

How to pronounce gold standard?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say gold standard in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of gold standard in Chaldean Numerology is: 5

2. Pythagorean Numerology

   The numerical value of gold standard in Pythagorean Numerology is: 2

Examples of gold standard in a Sentence

1. Andrew Horvat:

   What Abe has to do for smooth sailing is to say something his friends inside the Beltway can sell in Washington, the Murayama Statement is the 'gold standard' but we know that Abe, in his heart of hearts, doesn't want to say what the Murayama Statement said.

2. William Marchand:

   Antidepressants are the gold standard for the prevention of relapse of depression.

3. Cynthia Graham:

   It certainly shouldn’t be the next gold standard that we have to achieve.

4. Jonathan Cohn:

   The government had been seeking to subject dietary supplements to the same gold standard for testing as prescription drugs, bayer has faithfully followed the law, including the FTC's previous guidance.

5. Van Eenoo:

   That's why we are now investing in looking into blood concentration — dried blood spots, those kind of things — to complement urine, if we are looking at a zero tolerance policy which is important for most of the substances and especially those which are most performance-enhancing — steroids, EPO — then urine is the gold standard and will remain for quite a long time to come.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=gold standard
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Gold_Standard
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Gold_Standard
4. ^ ChatGPT
   https://chat.openai.com
5. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=gold standard