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1967: the AEA President versus the AFA President

In: Ideology and the International Economy

Author

Listed:
  • Robert Leeson

    (Murdoch University)

Abstract

An editor of Fortune magazine described the May 1967 Friedman-Roosa debate about exchange rates as ‘the most important money debate’ he had ever heard.1 Roosa, the current President of the American Finance Association (AFA), was regarded as ‘the foremost American expert on international monetary affairs’ (Volcker and Gyohten 1992, 21). The 49-year-old Roosa (1961, 125) was the quintessential ‘Best and Brightest’. Friedman, the current AEA President, had been ‘persona non grata in the Federal Reserve Board’ (Wallis 1976 [1964], 102). He continued to demonstrate to the satisfaction of increasing numbers of academic observers that his solution to the US balance of payments problem could achieve what all the king’s men could not.

Suggested Citation

  • Robert Leeson, 2003. "1967: the AEA President versus the AFA President," Palgrave Macmillan Books, in: Ideology and the International Economy, chapter 9, pages 55-60, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28602-3_9
    DOI: 10.1057/9780230286023_9
    as

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