Nearly everybody is fed up with the world's chaotic currency markets. Politicians, business executives and economists alike are unhappy with a system that allows the value of money to change wildly and freely from day to day. The arrangement has created instability in national economies, uncertainty for companies and increased tendencies toward trade protectionism. But nobody has come up with a better idea.
Last week, at a Washington conference billed as the U.S. Congressional Summit on Exchange Rates and the Dollar, some 400 international finance experts began talking about new ways of doing things. Sponsored by Presidential Hopefuls Jack Kemp, a...
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