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A Social Policy Trilemma

A Social Policy Trilemma

There is a trilemma in economics that states that a nation can only have two of the following three things: – Free movement of capital – A fixed monetary exchange rate – An independent monetary policy. All three of these are things that a country would sometimes quite like to have; however, the trilemma states that if a country has two of them, the third must in consequence be given up – it is not possible to maintain all three…

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