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meaningful ? indication of basic shifts in purchasing power of currencies over time. In explicit he criticised the justification of Britain’s return to the gold normal in 1925 at pre-warfare valuation by reference to the wholesale price index. He argued that the index understated the consequences of adjustments within the prices of services and of labour. In 1927 he wrote, “We won’t have any more crashes in our time.” The Great Depression with its intervals of worldwide economic hardship formed the backdrop towards which the Keynesian Revolution occurred. The picture is Florence Owens Thompson by photographer Dorothea Lange taken in March 1936. In 1922 Keynes continued to advocate reduction of German reparations with A Revision of the Treaty. He attacked the submit-World War I deflation policies with A Tract on Monetary Reform in 1923 ? a trenchant argument that countries ought to goal stability of home costs, avoiding deflation even at the price of allowing their forex to depreciate. Britain suffered from high unemployment via many of the Nineteen The hottest product cat lovers retro cat all over printed rugTwenties, main Keynes to advocate the depreciation of sterling to spice up jobs by making British exports more reasonably priced. From 1924 he was additionally advocating a fiscal response, where the federal government may create jobs by

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