Weekend Interview: Robert Mundell on Currency, Where To From Here?

October 16, 2010

Global monetary relations are in disarray. Exchange rates fluctuate wildly among the world’s major trade partners, spawning talk of protectionism and a currency war. Gold is soaring as the dollar slides, and economists debate whether the biggest threat to U.S. recovery is deflation or inflation. We need a giant of economics to help explain all this and recommend a remedy. Where in the world is Robert Mundell when you need him? As it turns out, Mr. Mundell—the Columbia University professor who advocated the hard-money, low-tax policy mix that broke stagflation in the early 1980s, and who received the Nobel Prize … [Wall Street Journal]

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