Everything is Everything

Ep 67: Don't Mess With the Exchange Rate


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In the last episode, Amit and Ajay spoke about how the state should never mess with the price system. Well, the exchange rate is the most important price -- and the state shouldn't try to control that either!

Welcome to Episode 67 of Everything is Everything, a weekly podcast hosted by Amit Varma and Ajay Shah.

In this episode, Ajay sheds light on one of his pet peeves -- people's obsession with the exchange rate. It doesn't matter if the rupee is 'strong' or 'weak', he argues -- these terms mean nothing. All mature economies have learnt to leave the exchange rate to the market -- and so should we. A freely fluctuating exchange rate guarantees macroeconomic stability.

TABLE OF CONTENTS:

00:00 Packaging
00:13 Intro: Ajay Loves Bumper Stickers!
05:47 Chapter 1: The Exchange Rate is the Most Important Price
21:48 Chapter 2: The Evolution of Exchange Rates
27:46 Chapter 3: The Three Rooms in the House
33:52 Chapter 4: Fluctuating Exchange Rates are Great!
42:57 Chapter 5: The India Story
1:08:47 Chapter 6: Recommendations
1:11:04 Chapter 7: Life Lessons

For magnificent, detailed, juicy show notes, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠click here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.

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Everything is EverythingBy Amit Varma and Ajay Shah

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