Tokyo had been the site of the Group of Seven economic summit, and the focus of discussion--at the summit and on this show--was, as Mr. Buckley phrases it, "the apparent failure of the float to regulate the value of foreign currency over against the dollar." Mr. Baker maintains that it hasn't failed, exactly, although "it's clear that there is too much volatility ... We're really on an information standard, if you will. If I should say something about the value of the dollar on this program, it would have an effect, and that's why I won't say anything about the value of the dollar on this program. It would have an effect on the foreign-exchange markets. We have got to find a way to relate more to the underlying fundamentals." An illuminating discussion touching on the Japanese economy, the dangers of protectionism, Latin American debt, and the workings of the Marshall Plan.