Lecture 7_Money in a POW camp.pdf

Lecture 7_Money in a POW camp.pdf

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7.1 What Is Money? 243 Money in a Pris*ner-0f-War (amp Among the Allied soldiers liberated from German pris- oner-of-war (POW) camps at the end of Worlcl War ll rras a young man named R. A. Radford. Radford had been trained in economics, and shortly after his return home he published ar article entitlei "The Economic Organisation of a POW Camp."* This article, a minor classic in the economics literature, is a fascinating account of the daily lives of soldiers in several POW camps. It focuses particularly on the_primitive "ggqrt9m&*hat grew up spontaneouslyil1 tn"@s. The scope for economic=b6n;t6?-in a POW camp might seem severely limited, and to a degree that's so. Ihere was little production of goods within the camps, although there was some trade in services, such as laun- dry or tailoring services and even portraiture. However, prisoners were allowed to move around freely within the compould, and they actively traded goods obtained From the Red Cross, the Germans, and other sources.
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