Why Economists Favour Floating Rates

  • Paul Einzig


Why is it that the majority of theoretical economists who are now in favour of a depreciation of a currency that is under pressure, instead of a devaluation, advocate the adoption of the most extreme form of flexibility — freely floating exchange rates?


Exchange Rate Foreign Exchange Capital Gain Stable Exchange Theoretical Economist 
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© Paul Einzig 1970

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  • Paul Einzig

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