For the seventh time since World War II, Finland has devalued its currency, this time by nearly one-third. In the future, it will require 4.2 Finn-marks, instead of 3.2, to equal a U.S. dollar. The move was received with resignation. Jested Kari Suomalainen, a leading cartoonist: "First we had the minicar, then we had the miniskirt, and now we have the minimark."
Devaluation was the inevitable answer to chronic economic ills. Last year Finland's gross national product was $8.6 billion, showing a mere 2.2% increase over the previous year, and well down from the average 5% growth rate during 1960-65. More than...
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