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Word: keynesism (lookup in dictionary) (lookup stats)
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The Plan. The Keynes proposal calls for the establishment of an international clearing agency or central bank, which would assist in setting appropriate rates of exchange between the currencies of the world. To this bank each nation of the world would contribute a certain amount of its own currency or...

Author: /time Magazine | Title: TRADE: Bank of the World | 4/5/1943 | See Source »

Though it makes use of gold, the Keynes plan is not a return to a rigid gold standard. One reason: many nations are now practically stripped of gold, and international exchange of goods cannot await its redistribution. Another: many an expert believes that exchange rates should be subject to revision...

Author: /time Magazine | Title: TRADE: Bank of the World | 4/5/1943 | See Source »

But experts who have considered the Keynes plan emphasize that revaluation of currencies is no cureall. Other lines of action would be: 1) to try to persuade nations tending to run trade deficits to reduce prices and costs, thus stimulating their exports; 2) to try to persuade nations running big...

Author: /time Magazine | Title: TRADE: Bank of the World | 4/5/1943 | See Source »

The Hope. The U.S. Treasury may propose a somewhat different use of gold than that contained in the Keynes plan. But most monetary experts agree that the best thing that could happen is for the U.S. to lose some of her gigantic stockpile of the metal through the process of...

Author: /time Magazine | Title: TRADE: Bank of the World | 4/5/1943 | See Source »

The hopeful thing about the Keynes plan is that it is a call to international cooperation. Significantly, it is addressed to all the United Nations, has been subject to consideration by China, Russia and other countries. To the degree that the U.S. and Britain can make world reconstruction-especially in...

Author: /time Magazine | Title: TRADE: Bank of the World | 4/5/1943 | See Source »

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