Communism, Value Neutrality and Monetary Neutrality

Yinghao Luo ()

MPRA Paper from University Library of Munich, Germany

Abstract: One of the most puzzling aspects about the functioning of the floating exchange rate regime of the 1980s has been that huge swings in exchange rate have had only muted effects on anything real. To understand this phenomenon, we study the relationship between communism and value neutrality and monetary neutrality. We find that the symmetry of communism is bound to lead to value neutrality. In the case of value neutrality, the economic man will certainly accept monetary neutrality. If money is neutral in the long run then even if purchasing power parity (PPP) is not valid in the short-run it will valid over the long run. However, without considering the time factor, communism is a kind of symmetry that is almost impossible to achieve. While considering the time factor, the symmetry of communism can be achieved in theory!

Keywords: communism; symmetry; value neutrality; monetary neutrality; purchasing power parity (search for similar items in EconPapers)
JEL-codes: A13 D24 D3 E5 F3 (search for similar items in EconPapers)
Date: 2017-05-20
New Economics Papers: this item is included in nep-dcm and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: COMMUNISM, VALUE NEUTRALITY AND MONETARY NEUTRALITY (2017)
Working Paper: Communism, Value Neutrality and Monetary Neutrality (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:79367

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