17.11.03

GETTING THE RULES RIGHT? Felix Rohatyn has a few thoughts on the subject. But read carefully. For example, doesn't a strong-dollar policy with high interest rates make foreign investors more likely to lend money here, and won't that strong dollar simply encourage more imports of steel by U.S. consumers? There are some other provocative proposals, in fact enough to make up a macroeconomics comprehensive exam just in attempting to comprehend it all.

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