Word: stateser
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Dates: during 1940-1949
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"With a four dollar pound it was much less profitable for British sellers to export to the dollar area than to the soft-currency areas. the thirty per cent devaluation should now make exports to the United States just about as profitable as to the non-dollar areas," Smithies points...
Finally, Professor Williams believes that much of the success or failure of the British action will depend on the United States. The fundamental cause of Britain's and Europe's dollar deficits "lies in our short-run economic instability and our long run tendency to outstrip others in production." The...
Devaluation considerably improves Britain's changes of getting on her feet, Mason feels. "Exports will rise to the United States, and Britain will now be in the competition for the important Latin American market." Twin stumbling blocks seen by Mason are the possibilities that America will up her tariffs and...
Despite the optimistic views of his colleagues, something of a minority view was voiced by Seymour e. Harris '20, professor or Economics and head of the undergraduate International Trade course. "Britain will still have a substantial deficit in 1952," he predicted, "largely because the American market won't take much...
What intensifies this particular difficulty, Professor Harris believes, is that devaluation in other countries will cut Britain's chances of increasing sales outside of the United States in the Latin American and sterling area markets. "Consequently I'm not overly enthusiastic about devaluation, because there is so much else that...