http://www.elpais.es/p/d/20000224/economia/mundell.htm
I am speechless. The mediocrity of his thinking and the level of factual misinformation is shocking. I thought Nobel prizes required at least an appearance of minimum competence. Here are some nuggets:
"I would invest most of the prize money in the stock markets. There are two things that worry me: the rise in oil prices and certain volatility in the currency rates. In any case, long term I am optimistic. There are great opportunities to make a lot of money [in the market] quickly thanks to Internet, new technologies...[I shit you not -he really said that!]."
"I think Europe is roughly five or six years behind the US. Except for the short period in the early 90's, the US economy has been growing since the Reagan tax cuts, which helped make the US economy the most efficient in the world."
"[I attribute the current US success] to both [Reagan and Clinton]. The Reagan tax cuts were the preparation. Then came the 90's recession, which was almost necessary, since it achieved a restructuration that made the economy healthier and gave it a great push forward. It was almost a good recession [you just can't make this shit up!]"
Wow. Maybe he just interviews badly.
Enrique