Sunday, June 6, 2010

Weekend items.

Shawn Tully of says Milton Friedman was right that the euro was doomed.

Friedman and supply-side father Robert Mundell debated the relative merits of fixed versus floating exchange rates for many years.

Speaking in Azerbaijan recently, here's Mundell:
Large fluctuations between the dollar and the euro pose great difficulties, particularly for countries such as Azerbaijan, Georgia, Armenia. The difficulties caused by the fluctuations are to stabilize one of these major currencies. In particular, a sharp increase in the dollar in the dollar zone can lead to a drop in some economies, he said.

He said that a single global currency can minimize the damage, which brings the fluctuation of rates of European and American currencies. It will help to stabilize the exchange rate of the dollar and the euro soon.
AEI’s Arthur Brooks sees the Europeanization of America.

Ben at The Simple Facts reviews Brian Domitrovic's “Econoclasts.”

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