Though it, no doubt, involved Free Trade, what both the Mallets pleaded for was "the policy of Free Exchange" a policy entering and ruling every form of human activity, or, at any rate, everything to which the quality of value inured, and so the quality of exchangeability.
"The Adventure of Living"
John St. Loe Strachey
"reciprocal of price-level"; value prior to exchange; value and exchangeability; do prices correctly express values?
"The Value of Money"
Benjamin M. Anderson, Jr.
exchangeability and value are different characteristics of goods.
"The Value of Money"
Benjamin M. Anderson, Jr.