As the new Russian state struggles with the transition to a market economy, the need for radical monetary reform becomes increasingly urgent. The choice of reform is crucial, for it will largely determine Russia's future economic performance.
An expert on currencies and inflation, Professor Hanke joins the show to explain what's happening in places like Venezuela and Turkey. How and why do currencies fail, and how can hyperinflation be prevented without bailouts.
Professor Steve Hanke of Johns Hopkins University said that dollarization has saved Ecuador from a catastrophe, and keeps the Ecuadorian economy one of the best performing in the Latin American region.
Erin sits down with Steve Hanke – professor applied economics at Johns Hopkins University and director of the Troubled Currencies Project at the Cato Institute. Steve tells us if China lowering its reserve requirement as a means of adding stimulus without changing interest rates will boost lending or growth.