2 ideas from Robert A. Mundell, each explained in a minute and credited to the original work. Free on Savvy.
Worked out by Robert Mundell and J. Marcus Fleming in the early 1960s, the impossible trinity says a country can have at most two of: a fixed exchange rate, free movement of capita…
— Robert Mundell and J. Marcus Fleming, Impossible trinity
Robert Mundell argued a shared currency only works well across regions that can absorb shocks together — through labor mobility, wage flexibility, or transfers between members, sin…
— Robert A. Mundell, A Theory of Optimum Currency Areas