The Problem of the Rupee, Its Origin and Its Solution

** "The Problem of the Rupee, Its Origin and Its Solution" by B. R. Ambedkar is a scholarly exploration of India's monetary system during the colonial era. The book investigates the historical changes in Indian currency, tracking its development and exploring answers to the problems. The author looks closely at the move away from the gold standard and towards a gold exchange standard, focusing on how this affected the rupee's value and stability. The beginning sets the scene to help readers follow the currency problems India faced at the time. Ambedkar claims that switching from using both gold and silver to just silver caused economic instability and was full of mistakes. Ambedkar points out the flaws in the currency changes that had already happened. He says that just dealing with the obvious signs of currency problems is not enough, disagreeing with other economists like John Maynard Keynes. He suggests that a very different currency system, perhaps with a rupee that cannot be exchanged for gold but is carefully controlled, would create a more reliable economy for India in the future. **