Monetary Policy

Clinton’s Job Performance Puzzle

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The pundits are bewildered over the public's apparently contradictory response to President Clinton during his recent troubles. Most people have a low opinion of his character. Yet at least 60 percent of those polled think he's doing a terrific job and should not resign. How can this be? Assuming the polling ... [click for more]

Book Review: Money and the Nation State

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Money and the Nation State edited by Kevin Dowd and Richard H. Timberlake Jr. (New Brunswick, N.J.: Transaction Publishers, 1998); 453 pages; $24.95. For the entire 20th century, governments have fought a world war against gold as an international monetary standard. In its place, governments have imposed a system of monetary nationalism, with each government controlling and managing its own ... [click for more]

Bank Mergers and Progress

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The big hullabaloo about the latest bank mergers stems from a fundamental misconception about the way the world works. The unions of Citicorp and Travelers, NationsBank and BankAmerica, and Banc One Corp. and First Chicago have to be judged against the fact that we live in a world of uncertainty. ... [click for more]
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