Quotes by Robert Mundell - Page 1

It's a lethal thing to suddenly raise taxes.
Robert Mundell /
Taxes
Lethal
Raise
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The benefits from a world currency would be enormous.
Robert Mundell /
Benefits
Currency
Enormous
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How much we owe to good teachers, good education, and good advice!
Robert Mundell /
Good Advice
Teachers
Owe
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Monetary discipline forces fiscal discipline on the politicians as well.
Robert Mundell /
Discipline
Monetary
Politicians
Fiscal
Forces
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As an undergraduate at UBC in Canada, I fell in love with economic theory. It was the right choice for me.
Robert Mundell /
Canada
Economic
Economic Theory
Theory
Undergraduate
Love Me Right
Choice
Right Choice
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I took high school very casually. There was Teen Town, chess, tennis, boxing, running. Lots of things going on.
Robert Mundell /
Running
Teen
Boxing
Chess
High School
Tennis
School High School Things
Lots
Casually
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The most important initiative you could take to improve the world economy would be to stabilize the dollar-euro rate.
Robert Mundell /
Initiative
Rate
World Economy
Stabilize
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The public is looking for free lunches, and the political competition for votes makes the politicians offer them free lunches.
Robert Mundell /
Competition
Votes
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I decided to go to the London School of Economics to write my thesis for MIT, under James Meade, Nobelist with Bertil Ohlin in 1977.
Robert Mundell /
Decided
London
Mit
Thesis
James
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It's political glue inside Europe to keep it together - the euro is the best thing going for it since the creation of the common market.
Robert Mundell /
Common
Creation
Euro
Glue
Inside
Since
Market
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I went to the University of Washington in Seattle. This was a very good place to study, and I learned a lot. But it wasn't the right place for my Ph.D.
Robert Mundell /
Good Place
Seattle
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The U.S. berates China for its exchange rate policy, which Washington doesn't like. But one-sided pressure on China to change its exchange rate is misplaced.
Robert Mundell /
Misplaced
One Sided
Rate
Exchange
Exchange Rate
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I have never believed that central banks should have rigid inflation targeting. That is not a good thing to stabilize. There is nothing in economic theory to back this.
Robert Mundell /
Economic Theory
Inflation
Banks
Central
Good Thing
Rigid
Stabilize
Targeting
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The whole idea of having a free trade area when you have gyrating exchange rates doesn't make sense at all. It just spoils the effect of any kind of free trade agreement.
Robert Mundell /
Agreement
Free Trade
Exchange
Rates
Spoils
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In my early days, I wrote my dissertation for MIT at the London School of Economics, really under James Meade, but my dissertation was five chapters on the theory of capital movement, but it didn't mention money.
Robert Mundell /
Chapters
Dissertation
London
Mit
Movement
Theory
Capital
Early Days
James
Mention
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The price of gold was fixed at $35 an ounce in 1934, but by the time the U.S. got through the Korean War, the Vietnam war, with all the associated secular inflation, the price level had gone up nearly three times.
Robert Mundell /
Fixed
Gold
Inflation
Secular
Vietnam
Vietnam War
Associated
Nearly
By The Time
Ounce
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The United States can't keep a completely open system if the rest of the world is less open. The United States may have to take a leaf out of the book of Japan, China, and Germany, and have protectionism inside the system.
Robert Mundell /
Germany
Japan
Protectionism
Leaf
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The problem started before World War I. The gold standard was working fairly well. But it broke down because of the war and what happened in the 1920s. And then the U.S. started to become so dominant in the world, with the dollar becoming the central currency after the 1930s, the whole world economy shifted.
Robert Mundell /
Broke
Currency
Dominant
Gold
Gold Standard
World Economy
World War I
Fairly
Central
Dollar
Standard
Shifted
World War
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