CFS special counselor and Johns Hopkins professor Steve Hanke penned an extraordinary piece – “Remembrances of a Currency Reformer: Some Notes and Sketches from the Field.” The piece chronicles his successes and experiences (over 21) as a currency reformer. Many of the episodes highlight the productivity of Steve’s longstanding collaboration with CFS senior fellow Kurt Schuler.
“Remembrances of a Currency Reformer” sheds light on currencies, challenges related to making policy, and the IMF. Steve offers unique insight into decisions in Indonesia, Argentina, Russia, Bulgaria, etc.
Last – and definitely not least – Steve offers five rules that have guided his research. They include:
– The 95% Rule,
– The Plumbing Principle,
– The Repetition Rule,
– The Patience Principle, and
– The Numero Uno Rule – Mrs. Hanke.
My brief and rule headings barely skim the surface. The full paper is available at http://krieger.jhu.edu/iae/economics/Remembrances_of_a_Currency_Reformer.pdf