Word: overexpand
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Dates: during 1940-1949
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Opinion definitely divided on the touchy question of gold. Some termed the White plan "sounder," pointed out that, since the bancor is nonconvertible to gold, the Keynes Clearing Union might overexpand credit. Keynes himself terms his plan "expansionist," but points out that the risks of deflation (such as was experienced in the '30s) are just as great...
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