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Fundamental Economic Feasibility Analysis on the Transition of Production Structure for a Forest Village in LAO PDR (라오스 산촌마을의 생산구조전환을 위한 투자 경제성 기초 분석)

  • Lee, Bohwe;Kim, Sebin;Lee, Joon-Woo;Rhee, Hakjun;Lee, Sangjin;Lee, Joong-goo;Baek, Woongi;Park, Bum-Jin;Koo, Seungmo
    • The Journal of the Korean Institute of Forest Recreation
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    • v.22 no.4
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    • pp.11-22
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    • 2018
  • This study analyzes the economic feasibility on the transition of production structure to increase income for a local forest village in Laos PDR. The study area was the Nongboua village in Sangthong district where the primary product is rice from rice paddy. Possible strategies were considered to increase the villagers' revenue, and Noni (Morinda citrifolia) was production in the short-term. We assumed that the project period was for 20 years for the analysis, and a total of 1,100 Noni tree was planted in 1 ha by $3m{\times}3m$ spacing. This study classified basic scenario one, scenario two, scenario three by the survival rate and purchase pirce of Noni. Generally Noni grows well. However, the seedlings' average survival rate (= production volume) was set up conservatively in this study to consider potential risks such as no production experience of Noni and tree disease. The scenario one assumed that the survival rate of Noni seedlings was 50% for 0-1 years, 60% for 0-2 years, and 70% for 3-20 years; the scenario two, 10% less, i.e., 40%, 50%, and 60%; and the scenario three, 10% less, i.e., 40%, 50%, 60% and purchase price 10% less, i.e., $0.29 to $0.26, respectively. Our analysis showed that all 3 scenarios resulted in economically-feasible IRR (internal rate of return) of 24.81%, 19.02%, and 16.30% of with a discounting rate of 10%. The B/C (benefit/cost) ratio for a unit area (1ha) was also analyzed for the three scenarios with a discounting rate of 10%, resutling in the B/C ratio of 1.71, 1.47, and 1.31. The study results showed that the Nongboua village would have a good opportunity to improve its low-income structure through planting and managing alternative crops such as Noni. Also the results can be used as useful decision-making information at a preliminary analysis level for planning other government and public investment projects for the Nonboua village.

A Study on the Future Prospect for Establishing the True Donghak Phase of Daesoon Thought (대순사상의 참동학 위상정립을 위한 미래관 연구)

  • Kim, Yong-hwan
    • Journal of the Daesoon Academy of Sciences
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    • v.29
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    • pp.1-36
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    • 2017
  • The purpose of this article is to investigate the future prospects for establishing the True Donghak phase of Daesoon Thought. The True Donghak refers to 'the future prospect of having a true life, true thinking, and true living' in which enjoying the world in a state of good fortune became a true reality after the death of Suwun, according to faith in Gucheon Sangje. The correlation between "Attending to the Lord of Heaven" in Donghak, and "The Reordering Works of Heaven and Earth" in Daesoon shows the prospect of achieving the Daesoonist transformation into energy to gain true life and re-creation. The correlation between "Nourishing the Lord of Heaven" in Donghak and "Attending to Study and Attending to Law" in Daesoon show the transformation of Daesoon-reason into true thinking and renewing. The correlation between "Humanity is Divine" in Donghak and "The Salvation of Humanity is the Will of Heaven" in Daesoon show transformation into the practice of Daesoon for the true living and renewing. This investigation utilizes the literature review and the generation theory of life-philosophy to examine revelations regarding the conversation between Spirit and Mind. This is the future prospect for the establishing the True Donghak phase of Daesoon thought. It consists of a threefold connection among life, thinking, and living. The "public-centered spirituality of Daesoon Truth" which connects and mediates among people appears in three aspects. Firstly, it is thought to be the vision of the true life through the 'renewal of active, energetic power' bestowed by Gucheon Sangje. Secondly, it is thought to be the vision of true thinking through the "renewal via freedom from delusion". Thirdly, it is thought to be the vision of true living through the "renewal of true mind". To bring about the creation of true Donghak, Gucheon Sangje incarnated to the Korean peninsula instead of Suwun and the salvation of the world salvation now centers on Korea with regards to the threefold connection future prospect. Gucheon Sangje's revelation addresses and solves the postscript problem of Chosun and further establishes a Utopia. Suwun established Donghak but failed later on due to his lankiness. At last the true Donghak has been opened for the future by Gucheon Sangje and Jeongsan's fifty years of religious accomplishments. In the long run, it has been developed further by Woodang's Daesoon Jinrihoe.

Levels of Physicians' Self-assessment of Life Satisfaction and Associated Factors (임상의사의 삶의 만족도 자가평가 수준과 관련 요인)

  • Jong Sun Ok;Hyeongsu Kim
    • Journal of agricultural medicine and community health
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    • v.48 no.1
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    • pp.28-40
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    • 2023
  • Objectives: This study aimed to identify the level of self-assessment of life satisfaction and various factors related to the life satisfaction of Korean physicians. Methods: This study is a secondary data analysis using the 2016 Korean physician survey Korean Physician Survey(KPS) data collected by the Research Institute for Healthcare Policy of the Korean Medical Association. The member database(DB) of the Korean Medical Association was used for sampling and the target population was formed and surveyed by using stratified quota sampling. A questionnaire was sent by E-mail as an online survey method and was conducted for a total of 7 weeks from November 21, 2016 to January 8, 2017. The final number of respondents was 8,564 (response rate 13.8%). In this study, a total of 7,228 physicians, excluding residents and public health doctors who are currently treating patients directly, were studied. Factors affecting the life satisfaction of physicians were analyzed using ordinal logistic regression analysis. Results: The physical factors positively related to the life satisfaction of physicians were those who were in their 60s, female, and thought they had good health status. As for psychological factors, stress was low. As for economic factors, satisfaction with income was high. As for social factors, the physicians lived with their families and were satisfied with the time they could spend with them. Also, the physicians were satisfied with the social respect they received as a doctors. Conclusions: Based on the results of this study, it is thought that a multifaceted approach is needed to increase the life satisfaction of physicians.

A Servicism Model of the New Legal System (서비스주의 법제도 구조와 운용 연구)

  • Hyunsoo Kim
    • Journal of Service Research and Studies
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    • v.11 no.4
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    • pp.1-20
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    • 2021
  • This study was conducted to derive a model of the legal system that is the basis for realizing the service economy, political administration, and social education system. Based on the experience of mankind's legal system operation in the historical era for the past 5,000 years, a legal system model that will make the future human society sustainable has been established. The problems of the current legal system were analyzed at the fundamental level. The root cause of injustice and unfairness was analyzed and a new legal system was designed. Through the legal systems of various national societies that have been attempted in the history of mankind, the structure of the legal system that is desirable for the modern society was designed. Human society, which has experienced how much good legal system has been and is being abused by human irrationality and nonsense, needs to make an effort to change the legal system paradigm itself by learning lessons from failure. This study derives the basis for a legal system that can realize justice and a fair society in the long term. It proposed a model for improving the legal system that allows human society to be happy for a long time. To this end, the fundamental role of the legal system was analyzed at the ideological level and the problems of the current legal system were presented. In addition, the problem of fundamental assumptions about human nature was analyzed and improved assumptions were presented. The structural system of the current legal system was analyzed and a new structure was proposed. In addition, a plan for the operation of a new legal system based on a new structure was suggested. The new legal system was named servicism system. This is because it is a model centered on thorough checks and balances between all opponents, not a simple linear one-dimensional legal system, but a multidimensional legal system, and because it is a viewpoint that clearly recognizes both human reason and desire. The new system is a model that reflects the confrontation between the rule of law and the non-law rule and the confrontation between the power people and the general public. A follow-up study is needed on a concrete plan for transitioning from the current legal system to a new legal system.

The Direction of Development of Leisure and Tourism Contents in Connection with Osaek District (강원도 오색지구 레저·관광 콘텐츠 개발 방향)

  • Lee, Gye-Young;Kim, Tae-Dong
    • Journal of Korea Entertainment Industry Association
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    • v.13 no.7
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    • pp.307-319
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    • 2019
  • This study aims to provide the basic materials for the development of leisure and tourism contents in connection with Osaek cableway for the revitalization of Osaek District. For such a purpose, the following policy directions were presented through the analysis of the present situation and conditions of Osaek District, the direction of development of leisure and tourism contents of Osaek District, etc. The first is increasing the participation of local residents and reinforcing their capabilities. The suggested promotion plans are ① establishing organizational system and strengthening support, ② reinforcing the capabilities of local residents and ③ constructing networks with external human resources. The second is setting the guidelines for contents development. It was proposed to prepare contents for leisure experience using the natural environment of Osaek District in response to the trend of increase of people who enjoy "contents using culture and arts" and leisure. The third is typological approach to contents. It was proposed to develop cultural contents with the theme of Osaek such as "Osaek Light Festival", "Osaek Concert", "Osaek Photo Exhibition" and "Osaek Good Men and Women Contest" for the promotion of the brand of the place name of Osaek and the creation of the "Picture Book Village" for the compilation of the history and culture of Osaek District with pictures. The fourth is securing marketing channels. For this, it was proposed to produce the website of Yangyang County or a website tentatively named as "Osaek-ri with Beautiful Osaek" and introduce an integrated travel product (transportation + lodging + foods + experience (hot spring, mineral water therapy, leisure experience, etc.) + purchasing local specialty products, etc.) composed of the leisure and tourism contents, transportation, lodging, foods, etc. of Osaek District through travel agencies. The final policy direction presented was phased implementation of the development and operation of the contents. Proposed policies include support of a consulting project to upgrade the organization of local residents; implementation of "Tourism Dure (Cooperative)" project for the solution of the problem of tourism in Osaek District by the residents themselves together using the space of culture and arts made by remodeling idle public and private facilities after benchmarking exemplary places; system improvement for the introduction of leisure and tourism contents appropriate for local conditions; and the establishment of a master plan for the introduction of various leisure and tourism contents in Osaek District.

The way and characteristics of Shaman's play (무당굿놀이의 연행방식과 특징)

  • Yun, Dong-Hwan
    • (The) Research of the performance art and culture
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    • no.38
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    • pp.193-224
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    • 2019
  • Shaman's play is significant in that it provided public theater for a long time in the theatrical and dramatic history. Unlike upper class who could call entertainer or Korean geisha in the traditional society, the majority of ordinary people could see professional performances through gut. Therefore, the shaman of the traditional society pulled the play which developed in the gut and the outside play into the gut and prepared the performance street for the ordinary people. shaman's play, apart from the religious context, has also functioned as a theatrical performance. Through shaman's play, you can see the process of ritual development into play. Shaman's play is a ritual ritual of expel calamity in an agriculture based society. In Korean consciousness, evil spirits are thought to bring disease or disaster to humans, so they should be good for evil spirits. This is a ritual that goes hand in hand with the Confucian Yeoje and the Buddhist Suryukjae. Most traditional plays, including masque performance, tend to weaken and become stifling after the designation of intangible cultural properties. However, shaman's play is transformed every time it is executed and is given a new meaning. Depending on the ability of the shaman to respond to and accommodate social change, adaptability is excellent depending on the situation in the field. Shaman's play has richness, prevent calamity and playful elements such as imitation of god and sexual connection based on the element of shamanism. In addition, it is necessary to pay attention to the meaning and the direction of Shaman's play because it is differentiated into play including social subject beyond mere magic imitation.

North Korean folk Operas and Musical Politics of Selection - Focused on National Operas Prior to Revolutionary Operas (북한 초기 고전 각색 가극과 선별의 음악 정치 - 혁명가극 이전 민족 가극을 중심으로)

  • Chung, Myung-Mun
    • (The) Research of the performance art and culture
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    • no.39
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    • pp.69-96
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    • 2019
  • North Korea has conserved operas in a selective manner. The subject matters of operas recorded in the history of North Korea can be divided into classical tales, translated foreign works, Korean War and war against Japan. Operas that adapted folk classics of the 1950s are considered valuable materials to verify the changes of genres posterior to division of regime between North and South Korea. The officially confirmed works include "Kumgangsan Palseonnyeo (Gyeonwoo Jiknyeo)," "Chunhyangjeon." "Kongjwi Patjwi (Kotsin)," "Ondal," and "Geumnaneui Dal." These works had gone through recreation in terms of realistic situation setting, abolition of class difference, adjustment of social rank and punishment of evil while the base lies in the original folk classics. People emphasized in adapted folk operas are described as those who are hard-working souls without giving importance of difference of social rank, content with the currently living space, devoted to their parents and full of patriotic spirit, and members of community who participate in organized fights against unfair exploitation. This was the fruit of encouragement of work creation supporting union between labor and individual life, destruction of old things and fight promoting this destruction. Folk operas of South and North Korea posterior to Korean War have similarities in that both deal with a love story transcending social ranks and the concomitant conflicts and they focus on the audience who enjoy the operas. Nonetheless, they are different in that this love in North Korea became a tool of educating people wished by the regime, while it became an object of securing the audience by adding the tragic element to love in South Korea. North Korean operas of the initial stage are characterized by playwriting method emphasizing difficult life and compensation of common people, realistic stage expression, accentuation of melody and agreement between notes and lyrics. This was efforts designed to continuously lead senses concentrated from the theater to everyday life of people. In effect, this is in line with the playwriting method of revolutionary operas. Adapted folk operas were subject matters ideal for easily approaching the audience and leaving them good memories at the same time. To realize socialist realism, they went through an experiment of reviewing "people" through the classic folk operas. The possibility of continuation of a work was determined by thorough evaluation after carrying out an experiment in terms of subject matters, theme, music and operation plans from the moment of which the work was on the stage. The sign consisted in the possibility of visit of "Kim Il-sung" to appreciate the work and presentation of directionality. By proposing the clear directionality of which hard-working people who deny social status system can be duly compensated, it encouraged the audience who saw the opera to voluntarily put this in practice. Thus, operas established the directionality through selective processes for creating public communion even before revolutionary operas.

A Study on Rationalization of National Forest Management in Korea (국유림경영(國有林經營)의 합리화(合理化)에 관(關)한 연구(硏究))

  • Choi, Kyu-Ryun
    • Journal of Korean Society of Forest Science
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    • v.20 no.1
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    • pp.1-44
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    • 1973
  • Needless to say, the management of national forest in all countries is very important in view of the national mission and management purposes. Korean national forest is also in particular significant in promoting national economy for the continuous increasing of the demand for wood, conservation of the land and social welfare. But there's no denying the fact that the leading aim of the Korean forest policy has been based upon the conservation of forest resources and recovery of land conservation function instead of improvement of the forest productive capacity. Therefore, the management of national forest should be aimed as an industry in the chain of the Korean national economy. And the increment of the forest productive capacity based on rationalized forest management is also urgently needed. Not only the increment of the timber production but also the establishment of the good forest in quality and quantity are to bring naturally many functions of conservation and other public benefits. In 1908 Korean national forest was historically established for the first time as a result of the notification for ownership, and was divided into two kinds in 1911-1924, such as indisposable national forest for land conservation, forest management, scientific research and public welfare, and the other national forest to be disposed. Indisposable forest is mostly under the jurisdiction of national forest stations (Chungbu, Tongbu, Nambu), and the tother national forests are under custody of respective cities and provinces, and under custody of the other government authorities. As of the end of 1971, national forest land is 19.5% (1,297,708 ha) of the total forest land area, but growing stock is 50.1% ($35,406,079m^3$) of the total forest growing stock, and timber production of national forest is 23.6% ($205,959m^3$) of the year production of total timber in Korea. Accordingly, it is the important fact that national forest occupies the major part of Korean forestry. The author positively affirms that success or failure of the management of national forest controls rise or fall of forestry in Korea. All functions of forest are very important, but among others the function of timber production is most important especially in Korea, that unavoidably imports a large quantity of foreign wood every year (in 1971 import of foreign wood-$3,756,000m^3$, 160,995,000 dollars). So, Korea urgently needs the improvement of forest productive capacity in national forest. But it is difficult that wood production meets the rapid increase of demand for wood to the development of economy, because production term of forestry is long, so national forest management should be rationalized by the effective investment and development of forestry techniques in the long view. Although Korean national forest business has many difficulties in the budget, techniques and the lack of labour due to outflow of rural village labour by development of national economy, and the increase of labour wages and administrative expenses etc. the development of national forest depends on adoption of the suitable forest techniques and management adapted for social and economical development. In this view point the writer has investigated and analyzed the status of the management of national forest in Korea to examine the irrational problems and suggest an improvement plan. The national forestry statistics cited in this study is based on the basic statistics and the statistics of the forest business as of the end of 1971 published by Office of Forestry, Republic of Korea, and the other depended on the data presented by the national forest stations. The writer wants to propose as follows (seemed to be helpful in improvement of Korean national forest management). 1) In the organization of national forest management, more national forest stations should be established to manage intensively, and the staff of working plan officials should be strengthened because of the importance of working plan. 2) By increasing the staff of protection officials, forest area assigned for each protection official should be decreased to 1,000-2,000 ha. 3) The frequent personnel changes of supervisor of national forest station(the responsible person on-the-spot) obstructs to accomplish the consistent management plan. 4) In the working plan drafting for national forest, basic investigations should be carefully practiced with sufficient expenditure and staff not to draft unreal working plan. 5) The area of working-unit should be decreased to less than 2,000 ha on the average for intensive management and the principle of a working-unit in a forest station should be realized as soon as possible. 6) Reforestation on open land should be completed in a short time with a debt of the special fund(a long term loan), and the land on which growing hardwood stands should be changed with conifers to increase productivity per unit area, and at the same time techical utilization method of hardwood should be developed. 7) Expenses of reforestation should be saved by mechanization and use of chemicals for reforestation and tree nursery operation providing against the lack of labour in future. 8) In forest protection, forest fire damage is enormous in comparison with foreign countries, accordingly prevention system and equipment should be improved, and also the minimum necessary budget should be counted up for establishment and manintenance of fire-lines. 9) Manufacture production should be enlarged to systematize protection, processing and circulation of forest business, and, by doing this, mich benefit is naturally given for rural people. 10) Establishment and arrangement of forest road networks and erosion control work are indispensable for the future development of national forest itself and local development. Therefore, these works should be promoted by the responsibility of general accounting instead of special accounting. 11) Mechanization of forest works should be realized for exploiting hinterlands to meet the demand for timber increased and for solving lack of labour, consequently it should promote import of forest machines, home production, training for operaters and careful adminitration. 12) Situation of labour in future will grow worse. Therefore, the countermeasure to maintain forest labourers and pay attention to public welfare facilities and works should be considered. 13) Although the condition of income and expenditure grows worse because of economical change, the regular expenditure should be fixed. So part of the surplus fund, as of the end of 1971, should be established for the fund, and used for enlarging reforestation and forest road networks(preceding investment in national forest).

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A Study on Nutritive Values and Salt Contents of Commercially Prepared Take-Out Boxed-Lunch In Korea (한국형 시판 도시락의 영양가 및 식염함량)

  • Kim, Bok-Hee;Lee, Eun-Wha;Kim, Won-Kyung;Lee, Yoon-Na;Kwak, Chung-Shil;Mo, Sumi
    • Journal of Nutrition and Health
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    • v.24 no.3
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    • pp.230-242
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    • 1991
  • This research was conducted on the 10 take-out boxed-lunches commercially prepared in the department stores. chain stores. and the public railroad trains in Korea. Sampling was conducted from February 1990 to March 1990. Nutritive values and sodium contents of the 10 boxed-lunch samples are summarized as follows : 1) The average weight(percentage) of the cooked rice and the side dishes were 304.6g(49.4) and 312.4(506%), respectively. The weight of these samples were significantly heavier than that of Japanese style boxed-lunches. 2) The average number of the side dishes was 12. The average numbers of food items classified by the five food groups were 6.1 in protein food group, 0.3 in calcium food group. 6.0 in vitamin and mineral food group. 1.5 in carbohydrate food group, and 1.5 in oil and fat food group. 3) They contained on the average 840.7kcal of energy, 38.9g of protein, 22.7g of fat, 120.4g of carbohydrate. 300.8mg of calcium. 410.8mg of phosphours, 6.61 mg of iron. 219.8 R.E. of vitamin A, 0.46mg of thiamin, 0.67mg of riboflavin, 10.5mg of niacin, 27.5mg of ascorbic acid. Thus. except vitamin t the content of all the nutrients were higher than the value of 1/3 of the RDA for adults. 4) The high priced group(group 2) had more protein, calcuim. iron and niacin contents than the cheaper group(group 1). Probably, it's because the group 2 had more animal foods than the group 1. 5) The average energy content per unit price(100 won) was 37.3kcal and the average protein content per unit price(100 won) was 1.64g. Korena style boxed-lunches had higher energy and protein contents per unit price than Japanese style, and the group 1 higher than the group 2. 6) The average energy Proportions of Protein, carbohydrate. and fat were 18.3%, 57.4%, and 24.3%, respectively. These proportions are good enough. 7) Frequency of cooking methods for the side dishes were found in the decreasing order : pan-frying, frying, braising, seasoning, kimchi, grilling, pickling, stir-frying, steaming and fermenting. Generally simple cooking methods were used, thus the menus were lack or varieties. 8) Frequency of colors for the side dishes were found in the decreasing order : red, brown. yellow, green, black, white. Too much red pepper was used. 9) The average capacity of the containers for the staples and the side dishes were 468.1ml and 590.6ml, respectively. And the containers could not keep the food items well seperated. 10) The average contensts of sodium and salt were 2.287mg and 5.76g, in the range of 1, 398mg to 3, 489mg and 3.53g to 8.80g, respectively. These are much higher values than the recommended amount of salt.

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An Overview of the Rationale of Monetary and Banking Intervention: The Role of the Central Bank in Money and Banking Revisited (화폐(貨幣)·금융개입(金融介入)의 이론적(理論的) 근거(根據)에 대한 고찰(考察) : 중앙은행(中央銀行)의 존립근거(存立根據)에 대한 개관(槪觀))

  • Jwa, Sung-hee
    • KDI Journal of Economic Policy
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    • v.12 no.3
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    • pp.71-94
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    • 1990
  • This paper reviews the rationale of monetary and banking intervention by an outside authority, either the government or the central bank, and seeks to delineate clearly the optimal limits to the monetary and banking deregulation currently underway in Korea as well as on a global scale. Furthermore, this paper seeks to establish an objective and balanced view on the role of the central bank, especially in light of the current discussion on the restructuring of Korea's central bank, which has been severely contaminated by interest-group politics. The discussion begins with the recognition that the modern free banking school and the new monetary economics are becoming formidable challenges to the traditional role of the government or the central bank in the monetary and banking sector. The paper reviews six arguments that have traditionally been presented to support intervention: (1) the possibility of an over-issue of bank notes under free banking instead of central banking; (2) externalities in and the public good nature of the use of money; (3) economies of scale and natural monopoly in producing money; (4) the need for macro stabilization policy due to the instability of the real sector; (5) the external effects of bank failure due to the inherent instability of the existing banking system; and (6) protection for small banknote users and depositors. Based on an analysis of the above arguments, the paper speculates on the optimal role of the government or central bank in the monetary and banking system and the optimal degree of monetary and banking deregulation. By contrast to the arguments for free banking or laissez-faire monetary systems, which become fashionable in recent years, monopoly and intervention by the government or central bank in the outside money system can be both necessary and optimal. In this case, of course, an over-issue of fiat money may be possible due to political considerations, but this issue is beyond the scope of this paper. On the other hand, the issue of inside monies based on outside money could indeed be provided for optimally under market competition by private institutions. A competitive system in issuing inside monies would help realize, to the maxim urn extent possible, external economies generated by using a single outside money. According to this reasoning, free banking activities will prevail in the inside money system, while a government monopoly will prevail in the outside money system. This speculation, then, also implies that the monetary and banking deregulation currently underway should and most likely will be limited to the inside money system, which could be liberalized to the fullest degree. It is also implied that it will be impractical to deregulate the outside money system and to allow market competition to provide outside money, in accordance with the arguments of the free banking school and the new monetary economics. Furthermore, the role of the government or central bank in this new environment will not be significantly different from their current roles. As far as the supply of fiat money continues to be monopolized by the government, the control of the supply of base money and such related responsibilities as monetary policy (argument(4)) and the lender of the last resort (argument (5)) will naturally be assigned to the outside money supplier. However, a mechanism for controlling an over-issue of fiat money by a monopolistic supplier will definitely be called for (argument(1)). A monetary policy based on a certain policy rule could be one possibility. More importantly, the deregulation of the inside money system would further increase the systemic risk inherent in the current fractional banking system, while enhancing the efficiency of the system (argument (5)). In this context, the role of the lender of the last resort would again become an instrument of paramount importance in alleviating liquidity crises in the early stages, thereby disallowing the possibility of a widespread bank run. Similarly, prudential banking supervision would also help maintain the safety and soundness of the fully deregulated banking system. These functions would also help protect depositors from losses due to bank failures (argument (6)). Finally, these speculations suggest that government or central bank authorities have probably been too conservative on the issue of the deregulation of the financial system, beyond the caution necessary to preserve system safety. Rather, only the fullest deregulation of the inside money system seems to guarantee the maximum enjoyment of external economies in the single outside money system.

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