A History of Gold and Money: 1450-1920 by Pierre Vilar

Vilar’s work is particularly valuable for its analysis of the transition from a gold standard to a fiat currency system. He argues that the rise of nation-states and the increasing complexity of the global economy made it increasingly difficult to maintain a system based on a single precious metal. This led to the adoption of fiat currencies, which are based on the creditworthiness of governments rather than on physical reserves of gold.

Vilar’s A History of Gold and Money is a major work of economic history that provides essential insights into the development of the modern world economy. His work is essential reading for anyone interested in understanding the history of money and its impact on human societies.