Nobel economics laureate Robert Mundell wrote in 1998 that the dollar-euro exchange rate would go on to become “the most important price in the world.” Mundell, who was known as the father of ...

Mundell Predicted Our Economic Instability The Nobel laureate knew that floating exchange rates would make the global economy volatile. By Sean Rushton April 11, 2023 5:54 pm ET Share ...

And as part of their efforts to address these problems, they have switched their currencies from a fixed exchange rate to a floating exchange rate, which sounds a little wonky.