AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
The Bratton Woods for the 21st Century
If we designed the system correctly back then let's say we'd all got in a room in late 1998 and said you know what the whole world was an average of depression let's design a new system well now it maybe would have been something like the Bratton Woods where we'd all agreed the levels of our exchange rates that would be fairly close together. We just wouldn't have this much debt interest rates wouldn't have stayed as low they wouldn't have so much capital flowing in permanently government mandated capital flowing into one place to fund it. I think we'd have had significant more equality as well remember one of the key drivers of this was China was so cheap on the exchange rate that it did