International Economic Relations
In my discussion hitherto I have been examining problems of political economy as if there were one supreme body concerned with public policy and one only, all complications of international economic (and political) relations being left on one side. In fact, however, on the unfortunate planet on which we live there is more than one such body; and some of the most anxious questions of policy arise from this circumstance. I propose therefore to devote this chapter to a survey of these questions. These are matters on which political economists of the earlier Classical tradition did some of their most interesting and valuable work. But they are also matters on which their thought was nevertheless incomplete and on which the changing circumstances of the world have opened up new vistas of problems and attempted solutions.
KeywordsExchange Rate Political Economy Central Bank Economic Freedom Liberal Ideal
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