Will Hutton today

Erm, can anyone explain Will\’s column to me today?

Other, that is, than the obvious undercurrent that they\’re all stupid bastards for not listening to Will Hutton, those world leaders the fools?

For a start he seems not to understand the difference with fixed (but changeable) exchange rates based on a gold standard in the 1930s and floating exchange rates now.

3 thoughts on “Will Hutton today”

  1. What don’t you understand about it? The bit about the UK having a role to play is a bit self-centred, but the idea that it’ll be easier for the US and China to find an agreeable exchange rate if demand is rising globally is not a bad one.

    Exchange rates don’t really float much at the moment, the only region that really lets its currency float is the Eurozone, and that’s probably because it can’t co-ordinate a different policy.

  2. Actually I suppose there are small countries – Australia, New Zealand, possibly Canada (although that’s a rather special case given its proximity to the US).

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