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The Mundell difference | VOX, CEPR Policy Portal

Paul De Grauwe The opening sentence of Robert Mundell’s 1963 paper “Capital mobility and stabilization policy under fixed and flexible exchange rates” one of the two most influential in a series of pathbreaking papers he published in the late 1950s and early 1960s is curious: “The world is still a closed economy, but its regions and countries are becoming increasingly open.” “Still”? Was Mundell thinking of a future with interplanetary trade, so that eventually the world as a whole wouldn’t be a closed economy? OK, he probably wasn’t, but if he was, it would have been in character. Mundell, who passed away on 4 April, was an economist ahead of his time.

The past we exalt reflects who we are now

Major General Umberto Nobile is not a historical personage whose fame resonates down the ages. Though he did a cool thing designed the dirigible Norge and piloted it over the North Pole with explorer Roald Admundsen in 1926, making them the first people to reach that distant axis. Richard E. Byrd claimed to have beaten them by a few days, flying over the pole in an airplane. But that was later disputed. History has a way of changing its mind like that. Byrd was a hero, then; now he’s a fraud, maybe. Times change. The story of Nobile’s arrival ran in the Chicago Daily News next to an article on Zenith testing short wave radio that’s where I bumped into him. Much new technology debuted in Chicago: VHS tape was first demonstrated here, cell phones, too. On July 8, 1926, while Nobile was arriving at LaSalle Street station, Zenith engineers in a freight yard in Englewood were showing off a new marvel, short wave radio, to communicate between the engine and the caboose of a New

Runaway Train is a hidden gem in the history of movies filmed in Alaska

Runaway Train is a hidden gem in the history of movies filmed in Alaska
adn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adn.com Daily Mail and Mail on Sunday newspapers.

Jupiter s Great Red Spot -- Could It Be a Way Station on the Long Road to Life?

Jupiter s Great Red Spot -- Could It Be a Way Station on the Long Road to Life?
dailygalaxy.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailygalaxy.com Daily Mail and Mail on Sunday newspapers.

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