In article <[EMAIL PROTECTED]>, Chris
Burford <[EMAIL PROTECTED]> writes
>Certainly there are grave disadvantages to most solutions but one of the
>things the Ukraine could learn from Lenin is how he borrowed Keynes's idea
>of a currency board backed by gold.
Lenin, like most leftists, was a Keynesian in his economics, even if he
predates him slightly. But I am not aware of either arguing for a
currency backed by gold (Trotsky did). Perhaps you have some evidence in
mind? In any case, it cannot be said often enough that Marx showed how a
currency, whether backed by gold or not, cannot overcome the
contradictions of capitalism. No government of any colour can spend
their way out of trouble without incurring bigger problems.
--
Lew
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