Is Rajan reading Hayek’s Monetary Nationalism and International Stability?

If not, Raghu Rajan evidently has an instinctive understanding of Hayekian thinking on global macroeconomic coordination.

You can read Hayek’s Monetary Nationalism and International Stability here.

These are the sorts of macroeconomic coordination problems that many “free-traders” seem not to be aware even exit — massive net trade deficits indicate massive global macroeconomic discoordination, given a background context of massive asymmetrical debt and massive discoordination across money and price regimes.

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