Economia
- Entenda Bretton Woods
What was decided at the Bretton Woods summit Jun 30th 2014, 23:50 by Buttonwood ON JULY 1ST 1944 the rich world’s finance experts convened in a hotel in the New Hampshire mountains to discuss the post-war monetary system. The Bretton Woods system...
- A Posição Dos Estados Unidos E Do Dólar Na Economia Mundial
The Dollar Under Siege Bud Conrad, Chief Economist After World War II, the dollar became the world’s preeminent currency. Convertible to gold at $35 an ounce, it was the backbone of international trade. Foreign central banks...
- China No Caminho De Padrão Ouro
China continues to hoard gold en masse. In June, China imported 104.6 tonnes from Hong Kong. That would bring China's gold imports from Hong Kong to 1,160 tonnes since the beginning of this year. Officially, China reports its total gold holdings...
- O Padrão Do Dólar
Our Dollar, Your Problem In his new book, The Unloved Dollar Standard: From Bretton Woods to the Rise of China, McKinnon explains some uncomfortable truths. The dollar standard is unloved because of what one US Treasury secretary told his foreign critics...
- Macro - O Curto E O Longo Prazo
Keynes sobre o curto e o longo prazo: "The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is...
Economia
Keynes e os neo-keynesianos
What Keynes Would Think of ‘Neo-Keynesians’
Unlike his acolytes, he understood the value of gold and the dangers of currency debasement.
As the Federal Reserve continues to struggle with when to place its foot ever so slightly on the brakes of a historic monetary expansion, I’m reminded of Richard Nixon’s words in 1971 when closing the gold window in the face of a run on the dollar. Of this dramatic repudiation of gold as a monetary metal Nixon famously declared, “I am now a Keynesian,” more often misquoted as “We are all Keynesians now.”
British economist John Maynard Keynes probably would have been horrified by this attribution. Nixon’s announcement was, after all, a coup de grâce delivered to Bretton Woods, the international monetary system of which Keynes was a principal architect. More important, he would never have thought desirable a world where currencies are backed by nothing more than a governmental promise to pay while the printing presses whirled unchecked.
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British economist John Maynard Keynes probably would have been horrified by this attribution. Nixon’s announcement was, after all, a coup de grâce delivered to Bretton Woods, the international monetary system of which Keynes was a principal architect. More important, he would never have thought desirable a world where currencies are backed by nothing more than a governmental promise to pay while the printing presses whirled unchecked.
Mais
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- Entenda Bretton Woods
What was decided at the Bretton Woods summit Jun 30th 2014, 23:50 by Buttonwood ON JULY 1ST 1944 the rich world’s finance experts convened in a hotel in the New Hampshire mountains to discuss the post-war monetary system. The Bretton Woods system...
- A Posição Dos Estados Unidos E Do Dólar Na Economia Mundial
The Dollar Under Siege Bud Conrad, Chief Economist After World War II, the dollar became the world’s preeminent currency. Convertible to gold at $35 an ounce, it was the backbone of international trade. Foreign central banks...
- China No Caminho De Padrão Ouro
China continues to hoard gold en masse. In June, China imported 104.6 tonnes from Hong Kong. That would bring China's gold imports from Hong Kong to 1,160 tonnes since the beginning of this year. Officially, China reports its total gold holdings...
- O Padrão Do Dólar
Our Dollar, Your Problem In his new book, The Unloved Dollar Standard: From Bretton Woods to the Rise of China, McKinnon explains some uncomfortable truths. The dollar standard is unloved because of what one US Treasury secretary told his foreign critics...
- Macro - O Curto E O Longo Prazo
Keynes sobre o curto e o longo prazo: "The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is...