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Moreover, abandoning the gold standard in favor of free floating currencies was supposed to eliminate currency crises and lead to an automatic adjustment in trade imbalances.
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If automatic adjustment plunged the country into too deep a recession, Argentina would still have the option albeit at great cost of recreating its central bank and restoring the peso.
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Automatic adjustment, together with the anchor against inflation provided by the fixed parity, has, for all its defects, delivered much better results than the country has been used to.
ECONOMIST: No more peso?
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The Intelligent LCD screens on both models are equipped with automatic backlight adjustment to offer a clear view of photos under any lighting conditions.
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Before that, increases had been automatic since the adjustment had been enacted in 1975.
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The VA12 Series also comes standard with loads of useful features such as automatic aspect ratio adjustment to ensure content is optimally positioned and sized for screen viewing, in addition to being VESA(R) wall mount compatible.
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Automatic or independent fiscal-policy adjustment (on top of so-called automatic stabilisers that operate in any case) may be difficult to develop.
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Intelligent discretion in monetary policy is capable of doing better than automatic currency-board adjustment.
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Additional tweaks include a manual volume adjustment (as opposed to the automatic gain the cameras usually employ), a brightness or RGB histogram display (this function, like some of these other features, has been available for a while as a hack), shutter and aperture priority modes have been added for movie shooting, and the audio sampling ramp has been bumped from 44.1KHz to 48KHz.
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Roberts, though, thinks that it's only natural that a battered economy, in the process of deleveraging, won't be able to kick into automatic pilot, regardless of the level of monetary adjustment.
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