The Only Way That We

But Then In April Of 1985 The Dollar Began A Sharp Decline. The Dollar's Trade Weighted Value Fell 23 Percent In Just 12 Months And By A Total Of 37 Percent By The Beginning Of 1988.

The Only Way That We Can Reduce Our Financial Dependence On The Inflow Of Funds From The Rest Of The World Is To Reduce Our Trade Deficit.

Thirty Years Ago, Many Economists Argued That Inflation Was A Kind Of Minor Inconvenience And That The Cost Of Reducing Inflation Was Too High A Price To Pay. No One Would Make Those Arguments Today.

And Finally, No Matter How Good The Science Gets, There Are Problems That Inevitably Depend On Judgment, On Art, On A Feel For Financial Markets.

Inflation Is Lower And More Stable And The Real Business Cycle Fluctuations Are More Modest.