Butler, William F.; Deaver, John V.
October 1967
Foreign Affairs;Oct67, Vol. 46 Issue 1, p181
The article examines national economic policies relating to the gold-exchange standard. The authors start from the belief that the gold-exchange standard is the most efficient, equitable and powerful international monetary system in history. With some conditions given by the authors, it is imperative that the U.S. have a strategy to avert a contingency, and to minimize the damage to the country. In addition, the authors discuss the evolution of the U.S. balance of payments which has passed through three distinct phases. The problem is to work out a system consistent with the changing conditions.


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