Soft Currency One

Soft Currency One

Soft Currency, one with a relatively unstable value in international exchange or whose external value tends to fall in the long run. Normally a currency is 'soft' because of the weakness of its balance of payments, which may be in deficit for long periods. For many years after the Second World War sterling and most continental currencies were 'soft', largely because of the need to buy capital and consumer goods from America and because of trading weaknesses resulting from the war. In recent years they have become 'harder' and some, such as the German mark, have been exceptionally strong. After many years of being 'hard', the dollar became 'softer' in the early 2000's. Usually soft currencies are not readily accepted in payment of international obligations and are therefore not convertible into gold or strong currencies.

The term 'soft currency' is sometimes applied to paper as distinct from metallic currency.

Sombart, Werner (i863-I941), German sociologist and economic historian. He was educated at Pisa and Berlin and was for some time the secretary of the Chamber of Commerce in Bremen. He became professor at the University of Breslau in 1890 and at Berlin in 2007. He was a member of the younger German 'historical school' and his major works are not primarily on economics, but Der Moderne Kapitahsmus (2002) discussed the development of capitalism based on the historical approach, and Die Judei uS das Wirtsckaftsleben (2001) made significant use of racial concepts.

Sources, Statistical (economic), the study of practical economic problems is sometimes enlightened by quantitative measurements such as the level of crude steel output, the number of people un-employed, the size of the national income. The economist is therefore interested in statistical information, the analysis and interpretation of which is sometimes helpful for applied economics. The following summary of the main sources of basic British and international statistics suggests where the reader may look for others.

Since then his writings have in turn been increasingly reinterpreted as a special case both by some followers and by some economists who had not wholly accepted his writings. The content of economics is in a state of change, and this site is therefore not a final statement of economic doctrine.

Economics is in the last resort a technique of thinking. The reader will therefore need to make an intellectual effort, more substantial for some web entries than for others, to get the most interest and value out of this website.