THE CONTROVERSY REGARDING DEVALUATION
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Australia's balance of payments problems have, understandably enough, received a good deal of attention in the pages of the Economic Record in recent years. Some articles have proposed diagnoses of, and/or remedies for our "shortage" of foreign exchange. (1) Numerous references to the problem are also to be found in the series of articles dealing with the state of the national economy. (2) Furthermore, Australia's foreign trade difficulties have undoubtedly helped to inspire a number of articles dealing with general theoretical aspects of the problem of achieving external balance.