Alan Greenspan’s The Age of Turbulence describes the volatility in financial markets in the last forty years. But why have the prices of real estate, stocks and bonds, and commodities been so variable? This distinguished speaker seminar given on April 13 presented the view that a floating currency arrangement is necessary because of the large changes in the prices of these assets.
Robert Z. Aliber is professor of international economics and finance emeritus at the Booth School of Business, University of Chicago.
Watch the video here