Describe weakness and strength of the gold standard

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Reference no: EM13982006

Describe one weakness and one strength of the gold standard. Do you agree with Milton Friedman that any system of pegged exchange rates is not a satisfactory system for countries with independent political systems; or do you agree with Ronald McKinnon when he says that the choice of exchange rate regime in a highly integrated global economy cannot be made by individual countries? Explain.

Reference no: EM13982006

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