The Taxonomy of International Money

Paul Davidson

Chapter 4 in International Money and the Real World, 1982, pp 79-95 from Palgrave Macmillan

Abstract: Abstract With a great deal of cogency, Shackle has argued that economic theory should adopt a ‘classificatory method’ of an analysis, i.e. theory ought explicitly to be a classificatory one, putting situations in this box or that according to what can happen as a sequel to it. Theories which tell us what will happen are claiming too much: too much of independence from their turbulent surroundings, too much capacity to remain upright in the gale of politics, diplomacy and technical chance and change, too much internal simplicity for even the world of business itself … The efficiency of formal codes is the efficiency of classification.1

Keywords: Exchange Rate; Trading Partner; Final Good; Trade Balance; Transfer Price (search for similar items in EconPapers)
Date: 1982
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DOI: 10.1007/978-1-349-16679-4_4

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