An Exchange Rate Myth Puzzles the Financial Times

The Chinese yuan recent high against the dollar – a puzzle for the FT? A Very Brief Lesson in Sovereign Currencies 101 by Dirk Ehnts, Econblog 101 The Financial Times reported 12 October 2012: The renminbi has jumped to its highest level in nearly two decades against the dollar in a small burst of appreciation …

The Great Debate©: Who Saw it Coming? (Part 2)

by L. Randall Wray, New Economic Perspectives Editor’s note: This is a continuation of the discussion posted earlier, The Great Debate©:  Who Saw It Coming? A focal point of that discussion was Hyman Minsky who formulated theories about instability in economic systems.  This essay adds to the debate and comes from one who studied for …