Word: keynesism
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When British Economist John Maynard Keynes presented his proposal for a world bank (TIME, April 15), the U.S. Treasury's hard-working economist, Dr. Harry D. White, was ready with a tentative U.S. proposal (TIME, April 19).
Over here in Australia, Lend-Lease-in-reverse is really Keynes' Bancor system working itself out quite effectively; at least, that is the way it appears to me. For example: America supplies Australia with materiel; Australia pays back by supplying the American forces with food. Does this balance out...
A Manhattan hostess learned last week that there is a "key countries approach" to postwar monetary stabilization. Said she: "I am furious. It took me all spring to pair off Lord Keynes and his bancor, and Harry White and his unitas. Now this has to bob up."
New generally to the U.S. public, the "key countries approach" has long been promoted by U.S. bankers. For several months U.S. bankers have been discussing it as an alternative to Keynes and White, whose plans, they feel, would put politics (central banks and fiscal agencies of government) in control of...
Money Student Williams is afraid that the Keynes and White plans would be mere facades behind and around which the various countries of the world would resume the old cutthroat practices of autarchy, blocked currencies, unilateral trade agreements. Dr. Williams sees nothing in Keynes's and White's...