Even though the Bretton Woods System is dead, the US Dollar still continues to be the “World Reserve Currency.” Everyone knows the Value of the US Dollar within Exchange Rates and everyone outside the Western world clamors for it during… Read More ›
Day: July 29, 2023
SMP Compendium: Political-Economic and Currency Unions
As established earlier in the SMP Compendium, the Socialist Nation’s geographical location is impacted by whether it is in the Western world (“developed country”) or outside the Western world (“developing country”). The details of the Work-Standard are broad enough to… Read More ›
SMP Compendium: On Formation of Customs Unions and Monetary Unions
If there are already five different Currencies pegged to the Work-Standard, certain accommodations may have to be made for Customs Unions, Political Unions, Economic and Monetary Unions. Anything short of literal annexation through economic means is acceptable and shall be… Read More ›
SMP Compendium: On Movements of Arbeit, Geld, and Information
In the Socialist Nation, everyone is expected to live within their own means of production, regardless of whether there is any international trade or not. Even so, there will always be moments where the State will be conducting trade with… Read More ›
SMP Compendium: Applications of Autarkic and Protectionist Trade Policies
Alexander Hamilton has given Socialism its political philosophy on the conduct of international trade. “Protectionism” and “Import Substitution Industrialization (ISI)” are the means of achieving Autarky. Autarky, it should be prefaced, is not an ideal but a strategic goal for… Read More ›
SMP Compendium: Exchange Rates and the Impossible Trinity
Every Currency has an Exchange Rate that determines its Value when compared against the Value of another Currency. This is best demonstrated by the Price of conversions between one Currency to another. If one wishes to know how much their Geld… Read More ›
SMP Compendium: Japan’s Lost Decades and the Rise of Zombie Firms and Zombie Banks
The “Lost Decade” refers to an economic and financial crisis that affected Japan in the 1980s-1990s, the effects of which continues to linger as of late. The Japanese were devastated by the bursting of the asset-price bubble that came as… Read More ›
SMP Compendium: CMEA’s Fixed Exchange Rates and its Hard Currency Shops
There is no doubt whatsoever that the demise of the Eastern Bloc countries and the Soviet Union by extension came as a direct result of the Death of Bretton Woods. While the Western Bloc and the United States opted for… Read More ›
SMP Compendium: On International Trade and Investment
Unlike regular national economics, the field of international economics covers a broader political dimension that spans the entire planet. It is normal for countries to trade with others to acquire whatever they need for their own economies. In international economics,… Read More ›
Update (29 July 2023)
Alright, the second to last round of Entries from the Third Edition of The Work-Standard are going to be posted later today. I still need to do a last minute check for all of the Entries for Section Six before… Read More ›
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