What does bancor mean?
Definitions for bancor
ban·cor
This dictionary definitions page includes all the possible meanings, example usage and translations of the word bancor.
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Wiktionary
bancornoun
name of the hypothetical supranational currency
Etymology: Coined by John Maynard Keynes in 1940-42.
Wikipedia
Bancor
The bancor was a supranational currency that John Maynard Keynes and E. F. Schumacher conceptualised in the years 1940–1942 and which the United Kingdom proposed to introduce after World War II. The name was inspired by the French banque or ('bank gold'). This newly created supranational currency would then be used in international trade as a unit of account within a multilateral clearing system—the International Clearing Union—which would also need to be founded.
Wikidata
Bancor
The bancor was a supranational currency that John Maynard Keynes and E. F. Schumacher conceptualised in the years 1940-42 and which the United Kingdom proposed to introduce after the Second World War. This newly created supranational currency would then be used in international trade as a unit of account within a multilateral clearing system – the International Clearing Union – which would also have to be founded. John Maynard Keynes proposed an explanation for the ineffectiveness of monetary policy to stem the depression, as well as a nonmonetary interpretation of the depression, and finally an alternative to a monetary policy for meeting the depression. Keynes believed that in times of heavy unemployment, interest rates could not be lowered by monetary policies. The ability for wealth to move between countries seeking the highest interest rate frustrated Keynesian policies. By closer government control of international trade and the movement of wealth, Keynesian policy would be more effective in stimulating individual economies. Bancor would not be an international currency. It would rather be a unit of account used to track international flows of wealth. Gold could be exchanged for bancors, but bancors could not be exchanged for gold. Individuals could not hold or trade in bancor. All international trade would be valued and cleared in bancor.
Numerology
Chaldean Numerology
The numerical value of bancor in Chaldean Numerology is: 2
Pythagorean Numerology
The numerical value of bancor in Pythagorean Numerology is: 8
Translations for bancor
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"bancor." Definitions.net. STANDS4 LLC, 2024. Web. 26 Apr. 2024. <https://www.definitions.net/definition/bancor>.
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