Re: Why no world currency?
On Feb 22, 2007, at 9:57 AM, Nicholas Ruiz III wrote:
The Euro is more about the protection of the representative value
of the nations that adopt it, relative to the diminishing value of their
respective national currencies, fast becoming worthless relative to questionable domestic production and profitabiity. It collectivizes economies on a representative basis, so their respective ‘tiny’ currencies don’t get hammered by poor numbers and outlooks.
I dunno, Sweden and the UK aren’t doing so badly.
Sure, part of the point of European integration has been to offer an
effective counterweight to Europe and Japan - but part of that
concept is adopting more American-style labor markets. Much better to
do that through abstract means like a single currency and a distant
ECB than having politicians explain it to their national electorates.
Doug