[The Economic Consequences of the Peace by John Maynard Keynes]@TWC D-Link bookThe Economic Consequences of the Peace CHAPTER IV 26/60
The case of Germany's neutral neighbors, who were formerly supplied in part from Great Britain but in large part from Germany, will be hardly less serious.
They will go to great lengths in the direction of making their own supplies to Germany of materials which are essential to her, conditional on these being paid for in coal.
Indeed they are already doing so.[49] With the breakdown of money economy the practice of international barter is becoming prevalent.
Nowadays money in Central and South-Eastern Europe is seldom a true measure of value in exchange, and will not necessarily buy anything, with the consequence that one country, possessing a commodity essential to the needs of another, sells it not for cash but only against a reciprocal engagement on the part of the latter country to furnish in return some article not less necessary to the former.
This is an extraordinary complication as compared with the former almost perfect simplicity of international trade.
<<Back Index Next>> D-Link book Top TWC mobile books
|