It states that countries can only have two of the three generally desirability’s: capital mobility, a stable exchange rate or monetary independence.
Read until you have something to write...Write until you have nothing to write...when you have nothing to write, read...read until you have something to write...Jeremiah
Jeremiah Dyke: It states that countries can only have two of the three generally desirability’s: capital mobility, a stable exchange rate or monetary independence.
Assuming monetary independance means what I think it means, that being the power of the central bank over the money supply and interest rates etc., I'd say an Austrian would disagree with the premise that this is desireable in the first place.
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