Titlebook: International Money and the Real World; Paul Davidson Book 1992Latest edition Palgrave Macmillan, a division of Macmillan Publishers Limit

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,Definitions and Taxonomy of Keynes’s Revolution, therefore, free to invent language (e.g. the quark) to describe the hypothetical causes of observable events. Economists, on the other hand, are destined to discuss phenomena which all but the youngest among us have observed and experienced. Thus, as soon as we are out of our infancy, we all (inclu

GLADE

Trade, Money and International Payments,n the current account must be offset by a negative balance on the capital account. It is essential for clear analysis to deal with imbalances in one subset of accounts at a time. Traditionally, economists have delved primarily into what happens when an adverse balance of trade develops,. that is whe

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International Liquidity and the Stability of Exchange Markets,al goods? The answer involves uncertainty about the future and the resulting inability to assure precisely the coordination of cash inflows with contractual cash outflow commitments. The holding of liquidity avoids the embarrassment, economic paralysis and perhaps even the death of any household or

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CAPE

Can Wages Be Universally Indexed?,y standard. If it is feasible to have universal indexing of money wages, then the question still remains as to which commodity standard should wages be geared to, e.g., an international commodity market basket or a domestic commodity standard. What would be the operational effects of such a legal mo

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What About the International Debt Crisis?,those of Latin America, and the other involves the obligations of the world’s largest debtor, the United States. These two debt situations are, in one sense, unrelated in that they developed at different times and for different reasons. The Latin American debts of both oil producing and oil consumin