Titlebook: International Money and the Real World; Paul Davidson Book 1982 Palgrave Macmillan, a division of Macmillan Publishers Limited 1982 econom

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Definitions for a Closed Economy: Illustrated via the Shortage of Saving Hypothesis,re are free to invent language (e.g. the quark) to describe the hypothetical causes of observable events, economists 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 (including the most feeble-mind

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The Stability of the Purchasing Power of Money,ming mass production processes by entrepreneurs, in a world where slavery and peonage are illegal, requires contractual commitments for the hire-purchase of inputs before the production activity is undertaken. Such contracts not only ensure regular (non-casual) employment and fair treatment of labou

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Can We Have an International Standard when there is an OPEC Cartel?,roposal for the operation of a stable, efficient international monetary system. OPEC’s major goal and pre-occupation is to continually redistribute the world’s income and wealth from oil consuming nations to oil producing nations via market pricing policies. As long as the OPEC Cartel members believ

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Can Wages be Fixed in Terms of an International Standard?,f some commodity standard. If such a system were feasible, should money wages be geared to the money cost of an international or a domestic commodity standard? And, what would be the operational effects of such legal modification of the existing law of money contracts on the operation of an entrepre

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Coordinating International Payments and Incomes,conomies moving through calendar time towards an uncertain and unknowable future should be resolved primarily via an intergovernmentally coordinated incomes policy designed to achieve the maximum degree of stickiness in flow-supply prices (and incomes claims) while reducing the trade deficit. To enu