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Why Stability is Unpopular

In: The Case against Floating Exchanges

Author

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  • Paul Einzig

Abstract

Stability of exchange, achieved and, on the whole, maintained under the Bretton Woods system, is becoming increasingly unpopular — even more so than stability under the gold standard had been. Opposition to it is becoming increasingly vocal and militant, and some of it comes from quite unexpected academic quarters. The general public, without being able to follow the intricacies of the technical and often deliberately obscurantist arguments involved, seems to be yielding gradually to the hypnotic effects of frequently repeated demagogic slogans in favour of flexible exchanges.

Suggested Citation

  • Paul Einzig, 1970. "Why Stability is Unpopular," Palgrave Macmillan Books, in: The Case against Floating Exchanges, chapter 0, pages 10-18, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-00681-6_2
    DOI: 10.1007/978-1-349-00681-6_2
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