New Frontiers in Economic Barbarism - NYTimes.com: "Quite. What Matt may not know, however, is that this is a classic argument in international macro, and the person who made it best was …. drumroll … Milton Friedman. Here’s a snip from Friedman’s 1953 essay “The case for flexible exchange rates”:
Is it really possible that people at the University of Chicago have unlearned not only Keynes but Friedman? Alas, yes."
'via Blog this'