The Case for Disinvestment

Paul Einzig

Chapter Chapter Eleven in The Destiny of the Dollar, 1972, pp 89-97 from Palgrave Macmillan

Abstract: Abstract The last chapter was devoted to the denunciation of over-investment abroad as one of the causes of the deterioration of the dollar. Although the argument in favour of restoring the strength of the dollar with a stroke of the pen through its drastic devaluation was sound, it would have been wishful thinking to assess very highly the chances of an adoption of this solution. Nothing short of a major disaster is likely to drive the United States into a sufficiently drastic devaluation, of an extent which would greatly exceed the immediate requirements of restoring the balance of payments equilibrium.

Keywords: Foreign Direct Investment; Foreign Asset; Wishful Thinking; American Firm; Gold Reserve (search for similar items in EconPapers)
Date: 1972
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DOI: 10.1007/978-1-349-01445-3_11

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