If they don't like the Chinese peg, maybe next they can target Texas for its 1-1 peg to the Ohio dollar, which is obviously sucking business to Texas.
It’s hard to get the point across to undergraduates that living inside a country is like living in a big fixed exchange system. And fixed exchange systems, by construction, allow the free transfer of wealth from one location to another.
Alternatively: people who bitch about Texas are just avoiding the inadequacy of their own current location.
Via Café Hayek.
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