Zitat des Tages von Robert Mundell:
The U.S. berates China for its exchange rate policy, which Washington doesn't like. But one-sided pressure on China to change its exchange rate is misplaced.
The public is looking for free lunches, and the political competition for votes makes the politicians offer them free lunches.
I have never believed that central banks should have rigid inflation targeting. That is not a good thing to stabilize. There is nothing in economic theory to back this.
How much we owe to good teachers, good education, and good advice!
I took high school very casually. There was Teen Town, chess, tennis, boxing, running. Lots of things going on.
As an undergraduate at UBC in Canada, I fell in love with economic theory. It was the right choice for me.
The United States can't keep a completely open system if the rest of the world is less open. The United States may have to take a leaf out of the book of Japan, China, and Germany, and have protectionism inside the system.
In my early days, I wrote my dissertation for MIT at the London School of Economics, really under James Meade, but my dissertation was five chapters on the theory of capital movement, but it didn't mention money.
It's a lethal thing to suddenly raise taxes.