Floating currencies - No, not cash on the Goodyear blimp. The Economist has a short history of modern finance starting with Nixon's currency float to deregulation. Concluding graf: "Amid the crisis of 2008, it is easy to forget that liberalisation had good consequences as well: by making it easier for households and businesses to get credit, deregulation contributed to economic growth. Deregulation may not have been the main cause of the rise in living standards over the last 30 years, but it helped more than it harmed." Discuss amongst yourselves. (HT: Maggie's Farm)