Hard course and import limit. What does the British recipe for survival in the war look like

The UK gives Ukraine an example of how to survive effectively during the war, writes economist Roman Sulzhik. During the Second World War, she resorted to a rigid course of pound and almost completely abandoned imports. In 1939, when it became clear that the war was inevitable, the pound course fell from $ 4. 61 per pound to 3. 99 - about 15%. With the start of full -lading, the course was fixed, $ 4. 03 per pound, and so it was held until 1949.

At the same time, unprecedented restrictions on imports were not introduced in England to save currency. Even the import of tea was limited, and people began to brew the same leaves several times. The letter of King George to his friend from the United States has been preserved, where he asks him to give a couple of boxes of elite toilet paper, because it became almost impossible to buy in London and he does not want to make an exception to import restrictions for the royal family.

I am sure that the British would be a little surprised when they saw how many elite cars are sold in Ukraine during the war and how we import anything we want, almost without restrictions. Why am I doing this excursion into history? I do not really understand why to make a "flexible" hryvnia. If I voted in the NBU, I would probably vote against.

Despite the unprecedented financial support of the allies and restrictions on the movement of capital, the situation in the foreign exchange market is very far from stable. Unfortunately, the market mechanisms of balancing the course do not work now - even if the hryvnia course is suddenly 50, this is not that one of the foreigners will say "Oh hryvnia is too cheap, let me buy it for $ 10 billion as an investment" or some exporter Decide not to hide the currency revenue abroad, but to sell it.

Everything is guided only by administrative measures - restrictions on imports and for the purchase of currency, and mandatory sale of currency. And even I, who always drowned for the free movement of capital in Ukraine and withdrawing all the restrictions on the conversion of the hryvnia, I understand that it is necessary during the war.