Funny Money: Exchange rates do not affect local inhabitants

Abstract

When we start to worry about the pound dollar exchange rate and maybe to think that there is something awe inspiring about ‘parity’ (ie $1 exchanging for £1) — we might just remember that forty years ago the £ was worth five dollars and at the same time our standard of living was about half of that we enjoy today. Money doesn't matter — what does is the goods and the services that go to make up our living standards.

Citation

Walsh, B. (1985), "Funny Money: Exchange rates do not affect local inhabitants", Work Study, Vol. 34 No. 5, pp. 14-17. https://doi.org/10.1108/eb060131