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The standard and the fixed exchange rates a discretionary power of the central
Banks has increased even more, than before when they tried nevertheless
To adhere to firm rules. It equally concerns as the countries, where
The purpose of a policy still is achievement at least relative stabilisation, so
And to the countries suppressed by inflation.
The governments - the main source of instability
We have the certificate of the competent and authoritative economist, in any
To measure not alien to the newest views, that during the last
Decades (1962-1972), when supporters of "exact adjustment" monetary policy
Have got influence which, we hope, they already will never have more,
The basic part of fluctuations in economy was a consequence budgetary and monetary
Swedish Journal of Economics, 75/1, 1973, in particular the river 19: "By tradition
The stabilisation theory considered the capitalist economy based on
Private property, as the mechanism which creates fluctuations... Now is not present
Doubts in that the main source of instability is the government ".
And the river 25: "Rates of inflation (in the USA, in 1962 - 1972it.) were considerably
More low, real growth - more uniform, the general rate of unemployment would change
It is not enough, its differences would be more moderate, and conditions in the end of this period
Introduction of the control over wages and the prices "would allow to avoid.>
Certainly, it is impossible to assert that the period after refusal of the semi-automatic
Regulations of monetary weight as a whole it has appeared stabler or free
From infringements in monetary circulation sphere, than the periods of domination gold
The standard or the fixed exchange rates.
To our look absolutely other economic will really open
The prospects created by free release of competitive currencies when we will understand,
That at such system that is considered now a monetary policy, becomes
As aspiration to benefit, should serve owing to it to public interests
Better, than ever did or could do any establishment, specially
Intended for this purpose. Will not exist giving in to the exact
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