The Golden Constant

Book excerpt: The Golden Constant is a unique examination of how gold's purchasing power has remained consistent over the centuries. First published in 1977, this new edition has additional material to bring it up to date. The book is the only in-depth examination of how the purchasing power of gold has performed over the centuries in both England and the USA. It contains a thorough explanation of how the gold market evolved and how this is related to economic and political developments, from 1560 in England, and from 1800 in the USA, up to 2007. The book also contains detailed historical statistics on gold, wholesale and consumer prices and the real price of gold. This important book will be an essential resource for institutional and individual investors in the gold industry. Academics, economic historians and economists interested in monetary and financial history will find this book to be a fascinating read.