Europe in the 19th Century
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, countries agree to convert currency into a specific amount of gold, which stabilizes the currency's value and fosters international trade. The gold standard played a crucial role in shaping global economies and trade relations during the 19th century, particularly in the context of industrialization, by providing a consistent monetary framework that facilitated economic growth and investment.
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