1967: the AEA President versus the AFA President

Robert Leeson

Chapter 9 in Ideology and the International Economy, 2003, pp 55-60 from Palgrave Macmillan

Abstract: Abstract An editor of Fortune magazine described the May 1967 Friedman-Roosa debate about exchange rates as ‘the most important money debate’ he had ever heard.1 Roosa, the current President of the American Finance Association (AFA), was regarded as ‘the foremost American expert on international monetary affairs’ (Volcker and Gyohten 1992, 21). The 49-year-old Roosa (1961, 125) was the quintessential ‘Best and Brightest’. Friedman, the current AEA President, had been ‘persona non grata in the Federal Reserve Board’ (Wallis 1976 [1964], 102). He continued to demonstrate to the satisfaction of increasing numbers of academic observers that his solution to the US balance of payments problem could achieve what all the king’s men could not.

Keywords: Exchange Rate; Foreign Exchange Market; Flexible Exchange Rate; Float Exchange Rate; International Monetary System (search for similar items in EconPapers)
Date: 2003
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28602-3_9

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230286023

DOI: 10.1057/9780230286023_9

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().