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Titlebook: Reflections on a Troubled World Economy; Fritz Machlup (Professor of Economics),Gerhard Fel Book 1983 Palgrave Macmillan, a division of Ma

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Gold and the Uneasy Case for Responsibly Managed Fiat Moneye margins of error, floating provides the only acceptable exchange-rate arrangement. Lack of predictability is an essential property of such an inflationary setting, because even the limited, short-run stimulus derived from inflation would be unattainable if the inflation rate were correctly foresee
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Exchange-rate Intervention: Arbitrage and Market Efficiency since the monetary authorities abroad determined the foreign-exchange rate of the dollar as they bought and sold their own currencies within the support limits around their parities. With the breakdown of the Bretton Woods system, the authorities in the United States faced a new problem—should they
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Economic Malaise and a Positive Programme for a Benevolent and Enlightened Dictatorter a long period of rapid growth, optimism and euphoria in the 1950s and early 1960s. The malaise continued and became more intense in 1980. All recent reports on the state of the world economy and the prospects for the coming years from national and international agencies—the International Monetar
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The Supply-side Approach to Macro-economic Policy: the West German Experiencernments of most countries have shifted their attention to supply rigidities and their causes. As a consequence thereof, the magnitude and composition of productive potential, rather than its current rate of utilisation, become a matter of economic policy. The drastic oil-price increase in 1973–74 in
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Re-appraisal of Foreign Trade Strategies for Industrial Developmentped countries (LDCs) to apply in pursuit of rapid and sustained industrialisation. Most academic economists and economic policy makers share the view that foreign trade policies, while certainly not sufficient to achieve specific industrialisation objectives, do matter. It is still controversial, ho
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