Tag Archives: Robert Mundell
William White: Why we need to debate exchange rates
William White, formerly head of monetary and economic affairs at the Bank for International Settlements and now chair of a key OECD committee, is one of the few mainstream economists willing and eager to keep the debate about exchange rates systems alive. Most of them want to bury it. In a paper published by the…
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Does the ‘reserve’ dollar harm America?
For many years Lewis E. Lehrman and John D. Mueller have been calling attention to what they call the “reserve-currency curse.” Since some politicians and economists have recently insisted that the dollar’s official role as the world’s reserve currency is instead a great blessing, it is welcome that they have recently revisited the issue…
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IV The Power of Global Finance
Under present arrangements, finance too often acts as a malevolent force, rewarding private sectional interests at the expense of the public interest. This is because the globalisation of markets has run ahead of our power to control them. Properly harnessed, global finance could be, again, an enormously powerful force for good. Designing such a harness…
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Keynes, Mundell and The Money Trap
Most economic commentary, such as that of Roubini, falls into this category (see Diary of 21/11/12). The “analysis” amounts to saying: “Oh, what a mess we are in!” We knew that already. Some vary their message by claiming to detect chinks of light in the gloom. Others conclude by saying things like, “If only the…
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