Discussion of the Paper by Professor Kindleberger
Professor Sohmert said that in the first part of his paper Professor Kindle- berger held that arguments for ‘cosmopolitan’ policy solutions were economic; arguments against were mostly political. Many countries and their inhabitants had different preferences. There was a case for allowing them to pursue these to some extent, even if this led to non-optimal results in purely economic terms.
KeywordsExchange Rate Monetary Policy Comparative Advantage Multinational Corporation Currency Area
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