MAJOR ISSUES IN MONETARY AND FISCAL POLICIES IN THE UNITED STATES*
It is a long established tradition of monetary economics in the United States that discussion of major issues in monetary and fiscal policies should be restricted to the domestic aspects of the subject and should take the international environment as given. I find such a constraint, however, intolerably confining and inappropriate to the present circumstances of the United States.
In my opinion the major issue in monetary and fiscal policy in the United States at the present time is the shape that the international monetary system should take. Furthermore, the decisions—or ...
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