“Keynes’s design was in favour of the liberalization of the economy and the capital’s transfers, for the main purpose of monetary stability. To avoid devaluation of currencies - a practice followed by governments in order to sustain their export - Lord Keynes planned to introduce “Bancor”, a money of account to be accepted by all countries in international exchanges. The international body to be organized would get interests both from debtor and creditor countries, in order to finance the balance of payments system”

Source: The international economy from a political to an authoritative drive, p. 130

Adopted from Wikiquote. Last update June 3, 2021. History

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Nico Perrone16

Italian historian and writer 1935

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