Abstract
A sound constructive scheme must provide:
-
I.
A method for regulating the supply of currency and credit with a view to maintaining, so far as possible, the stability of the internal price level; and
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II.
A method for regulating the supply of foreign exchange so as to avoid purely temporary fluctuations caused by seasonal or other influences and not due to a lasting disturbance in the relation between the internal and the external price level.
From A Tract on Monetary Reform, chapter V, ‘Positive Suggestions for the Future Regulation of Money’.
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© 2010 The Royal Economic Society
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Keynes, J.M. (2010). Positive Suggestions for the Future Regulation of Money (1923). In: Essays in Persuasion. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-59072-8_15
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DOI: https://doi.org/10.1007/978-1-349-59072-8_15
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