The impossible trinity (also known as the impossible trilemma or the Unholy Trinity) is a concept in international economics and international political economy which states that it is impossible to have all three of the following at the same time:
- a fixed foreign exchange rate
- free capital movement (absence of capital controls)
- an independent monetary policy
The impossible trinity (also known as the impossible trilemma or the Unholy Trinity) is a concept in international economics and international political economy which states that it is impossible to have all three of the following at the same time: