Two Kinds of Time
Like the interests and influence of John Williams, one of the country's foremost economists, these essays in his honor cover a wide range. Some are theoretical, others deal with economic practice and governmental policy. The papers on international economics consider devaluation, the theory of state trading, several aspects of Western European economic coöperation, and the relation of underdeveloped countries to the international monetary mechanism. Most of the other essays--they were all completed before June 1950--deal with monetary theory and central banking.