Professor Mundell, Euro, And ‘Pessimal Currency Areas’

August 25, 2011

After all these years, I have finally been able to sit down for an hour with Robert Mundell, the great theorist of currency unions and the godfather of the euro. “We’re in very serious danger. The world is in a depression in the Big Three of America, Europe and Japan, a mini-depression that we have not seen since the 1930s,” he said, speaking at the Lindau conference, where half the world’s Nobel economist are gathered on one tiny island with cobbled streets looking across Lake Constance to the Alps. Few economists inspire such devotion and fury as Professor Mundell. [The Telegraph]

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