The Lebanese Exchange Rate Is Overvalued

Ireland got rich by making capital cheap. The lebanes tried to remain rich, but they didn't deploy the same capital taxation. So it meant that they were always running a trade deficit. They didn't make enough stuff. A country like ireland did. Imagine what ireland did and now we know why. It's because of an over valued exchange raite. This means that the productive capacity of the country collapses. You basy don't make anything because, ayo, expensive fright? Quick question, hows become overvalued? Well, because the lebenes picked a number, price, right? And then what was happening is, the lebeles real wages rose