In international monetary economics our exam questions remain the same. Only the answers change, from decade to decade. I nominate five concepts, which were virtually conventional wisdom a short time ago, for my list of what is now “out.” I also nominate five concepts, which might have been described as “out” a few years ago, for my list of what is now “in.”
Frankel, Jeffrey A. "What's In and Out in Global Money." Finance and Development. September 2009.