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Tuesday, October 13, 2009

Richard Burton - Dick Cavett (IV), Paul Krugman

Richard Burton: A Regretful Au Revoir - By DICK CAVETT
In the final installment of a four-part interview from 1980, Richard Burton talks about drinking, among other things.

One lesson from the Great Depression is that you should never underestimate the destructive power of bad ideas. And some of the bad ideas that helped cause the Depression have, alas, proved all too durable: in modified form, they continue to influence economic debate today.
The truth is that the falling dollar is good news. For one thing, it’s mainly the result of rising confidence: the dollar rose at the height of the financial crisis as panicked investors sought safe haven in America, and it’s falling again now that the fear is subsiding. And a lower dollar is good for U.S. exporters, helping us make the transition away from huge trade deficits to a more sustainable international position. Paul Krugman


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