Monday, May 11, 2015
Keynes and International Monetary Reform
All the scientific books I inherited from my grandfather (Gerard Jan Blink, 1891-1971) have a bibliographic card inside, in his handwriting.
Before I will highlight some points in the paper by Jan Kregel I spoke about in my previous post, I'd like to highlight a few points in Keynes' Preface to "A tract on Monetary Reform".
"Unemployment, the precarious life of the worker, the disappointment of expectation, the sudden loss of savings, the excessive windfalls to individuals, the speculator, the profiteer -- all proceed, in large measure, from the instability of the standard of value."
"Nowhere do conservative notions consider themselves more in place than in currency ; yet nowhere is the need of innovation more urgent."
The full text of Keynes' preface is below.