The Scope and Method of Political Economy by John Maynard Keynes
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Foreign exchange, or forex, is the conversion of one country’s currency into another.
In a free economy, a country’s currency is valued according to the laws of supply and demand.
In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. dollar, or even to a basket of currencies.
A country’s currency value may also be set by the country’s government.
However, most countries float their currencies freely against those of other countries, which keeps them in constant fluctuation.
This scarce antiquarian book is a facsimile reprint of the original. Due to its age, it may contain imperfections such as marks, notations, marginalia and flawed pages. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world’s literature in affordable, high quality, modern editions that are true to the original work.
About the Author
John Neville Keynes (1852-1949) was an economist and father to the late John Maynard Keynes. He was also university lecturer in moral science and late fellow of Pembroke College at the University of Cambridge as well as late examiner in political economy at the University of London. One of his famous arguments was dividing the idea of Economy into three parts: positive economy, normative economy, and the “art of economics.” He is most known for his Studies and Exercises in Formal Logic. –This text refers to theHardcover edition.
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