Do we need a weak dollar?

posted by
June 2, 2011
Ludwig von Mises Institute
by Robert P. Murphy  
Posted in Commentary

"Last week I testified before a Congressional subcommittee on the Fed's role in rising gasoline prices. All of the economists on the panel agreed that oil prices were rising (partly) because of the dollar's fall against other currencies. However, Dean Baker — prominent Keynesian pundit and codirector of the Center for Economic and Policy Research — testified that the dollar's fall was inevitable, and even a good thing in light of the US trade deficit. At the time, I knew I disagreed with Baker, but I didn't get a chance to explain why." (06/02/11)  

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