In our analysis of money, we have focused on its two basic functions, those of (a) the means of contractual settlement, and (b) the vehicle for transferring purchasing power over time, a liquidity time machine.
KeywordsDepression Income Assure Hines
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Notes and References
- 3.Weintraub indicates that Central Bank intervention has been greater for developed nations since the abandonment of the Bretton Woods fix rate system in 1971. See S. Weintraub, ‘Flexible Exchange Rates: New Wine in Old Bottles’, Journal of Post Keynesian Economics, 3, 1981.Google Scholar
- 8.For example, G. Dufey and I. H. Giddy, The International Money Market (New Jersey: Prentice Hall, 1978); also see Some Questions and Brief Answers About the Eurodollar Market, Joint Economic Committee, U.S. Congress 95th Congress, 1st Session (Washington: U.S. Government Printing Office, 1977).Google Scholar
- 10.V. Chick, The Evolution of the International Monetary System: Some Lessons From National Experience (University College, London, 1979, mimeo).Google Scholar
- 12.Ibid. p. 324. See S. Weintraub, Price Theory (New York: Pitman, 1949) Chapter 14, for a complete discussion of different degrees of price discrimination.Google Scholar