Keynes’ maiden speech to the House of Lords took place during this week in 1943, when he endorsed recently published plans for the post-war monetary system
fun fact: Dexter White was literally a Soviet spy/agent. Imagine. One of the chief architects of post war order and first director of IMF was literally a traitor and an agent of a totalitarian enemy power with tens of millions of murders on its hands.
It is economically advantageous for creditor nations, and for the world economy, if creditor nations operate with trade deficits: deficits proportionate to their creditor status. That is, the deficits should be large enough to enable the nationals of debtor nations to acquire a sufficient amount of foreign exchange to enable them to service their international debts.
Thank you. I will study this essay with great interest.
fun fact: Dexter White was literally a Soviet spy/agent. Imagine. One of the chief architects of post war order and first director of IMF was literally a traitor and an agent of a totalitarian enemy power with tens of millions of murders on its hands.
You'd think more people would care.
It is economically advantageous for creditor nations, and for the world economy, if creditor nations operate with trade deficits: deficits proportionate to their creditor status. That is, the deficits should be large enough to enable the nationals of debtor nations to acquire a sufficient amount of foreign exchange to enable them to service their international debts.