* * * N E W A C Q U I S I T I O N S * J U L Y 2 0 2 4 B A U M A N R A R E B O O K S 19 FIRST EDITION OF GRAHAM’S WORLD COMMODITIES AND WORLD CURRENCY, 1944 19. GRAHAM, Benjamin. World Commodities and World Currency. New York and London, 1944. Octavo, original burgundy cloth. $5400 First edition of Graham’s important work on developing a new international commodity standard. In World Commodities and World Currency, Benjamin Graham “proposed an international ‘commodity standard’ where macroeconomic policies would focus on a general basket of commodities, a concept supported by Keynes, Hayek, and Friedman” (qFinance Newsletter). “By tying the world monetary system to a basket of commodities, rather than a single precious metal, Graham hoped to solved the… issues with the gold standard while still tying currency to a basket of commodities which possessed a distinct tangible value. A basket of currencies would help alleviate many of the economic problems which were created when large amounts of capital crossed international borders” (John Emerson).Graham’s approach found an avid following in the financial community. He was nicknamed the “Dean of Wall Street” and raised to almost mythic status among investors. “Graham’s method of investing is as relevant today as it was when he first espoused it during the Roaring Twenties” (Investor’s Business Daily). “The wider Mr. Graham’s gospel spreads, the more fairly the market will deal with its public” (Barron’s). Without scarce original dust jacket. Interior fine, cloth with light rubbing to spine ends and corners. A near-fine copy.
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