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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Chip McVickar who wrote (427)	8/20/1998 1:03:00 AM
From: kormac	Read Replies (2) of 3536

Chip, I know little about the international monetary system, but I am learning much about it here. I did read Charles P. Kindleberger's Manias, Panics and Crashes and he believes that floating currencies lead to instability. I can't find the page now, but Lester Thurow in his book on Future of Capitalism also refers to Kindleberger's thoughts on this. I know well in how low regard Paul Krugman holds Thurow. I was listening to Krugman on Cspan and he mentioned what I have for long believed, the presidents do not deserve much credit for how economies function. Some of them are lucky to have served at the right time and some are not. Seppo

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