According to these thinkers, countries cannot enjoy any two of the three goals enshrined in the impossible trinity: capital mobility inhibits monetary independence, regardless of what happens to the exchange rate.
So ran Ed and Katryn's schedule for Tehran, the country's polluted, impossible, disputatious capital, where I lived for seven years – loving the experience but getting less and less of it as the city slowed under the deadweight of mismanagement, political controversy and the fear of Israeli or US attack.
The prices of many biotechnology stocks have plummeted, and Wall Street's vaults have snapped nearly shut, making it almost impossible for capital-hungry companies to finance themselves.
IN HIS history of 20th-century London, published in 2008, Jerry White recalls that at the start of the millennium it seemed impossible that the capital would ever grow larger than its 1939 peak of 8.6m people.
In fact, until a few years ago, when the Jumpstart Our Business Startups (or JOBS) Act loosened certain securities regulations, it was all but impossible for venture capital or crowdfunding investors to participate in the industry.
Radio Pancevo, the independent station that broadcast to Belgrade throughout the war, continued to operate in the nearby town of Pancevo, but its frequency in Belgrade was jammed with other programming, making it impossible for the capital to get independent broadcast news.
The 90,000 Sunni refugees who fled Ramadi for Baghdad when the fighting started found it difficult or impossible to enter the capital because they were suspected of being IS infiltrators.
Even if new controls in Cyprus make it impossible to move much capital elsewhere for the moment, rival havens are nonetheless intent on luring foreign-owned businesses that have been incorporated in Cyprus and might be happy to relocate.
But his arrest is a clear sign that peace talks between Moscow and representatives of the breakaway administration in Grozny, the Chechen capital, are impossible in the present climate.
If worried investors continue to shun corporate bonds as they turn away from risk, many companies will find it impossible to raise the capital that leads to new job creation and continued economic growth.
