Actually, Many Of Our Disparate, "Macro-Economic" Questions Come Down To Just One.

(Commentary posted by Roger Erickson)



In a growing aggregate with growing capabilities:

Do we constrain our degrees of aggregate freedom [i.e., let unemployment "float"] in order to "stabilize" Fx rates for fiat currencies ......

... or do we let Fx rates float, as originally designed, in order to stabilize full employment, for aggregate populations expressing distributed public fiat?

Most other things are just details?