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Interview with Milton Friedman
Here it is. Excerpt:
Germany’s problem, in part, is that it went into the euro at the wrong exchange rate that overvalued the deutsche mark. So you have a situation in the eurozone where Ireland has inflation and rapid expansion while Germany and France have stalled and had the difficulties of adjusting.
The euro is going to be a big source of problems, not a source of help. The euro has no precedent. To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states.
Thanks to www.2blowhards.com for the pointer.
Addendum: Here is an interview with Gary Becker, who talks about Friedman, John Nash, Dostoyevsky, and Brokeback Mountain. Thanks to Freakonomics blog for the pointer.
Posted by Tyler Cowen on February 5, 2006 at 06:18 PM in Economics | Permalink
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