In the wake of crumbling currencies and worldwide recession, should we return to the gold standard? Not quite, says Lyric Hughes Hale, but there must be a newer, better way to build convergence into the global financial system. Her solution: create a target interest rate of 2% and ask all other countries to do the same, then implement gradual tightening. If another crisis hits, she concludes, at least we'll have something familiar to work with.
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