Why don't we have a one world currency by now?

gats · September 30, 2014, 02:00:19 PM

I understand implementing it isn't very easy but why aren't our governments working towards it?

Juuzou · September 30, 2014, 02:01:01 PM

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Septy · September 30, 2014, 02:01:20 PM

Because we're stupid.

More Than Mortal · September 30, 2014, 02:12:03 PM

Because a one-world currency would be insanely unstable, undesirable, stupid and dangerous.

gats · September 30, 2014, 02:13:31 PM

Quote from: Meta Cognition on September 30, 2014, 02:12:03 PM

Because a one-world currency would be insanely unstable, undesirable, stupid and dangerous.

You're one of the economists on here, care to explain to me why?

DAS B00T x2 · September 30, 2014, 02:14:06 PM

Greece tanked the Euro.

More Than Mortal · September 30, 2014, 02:30:05 PM

Quote from: Gatsby on September 30, 2014, 02:13:31 PM

Quote from: Meta Cognition on September 30, 2014, 02:12:03 PM
Because a one-world currency would be insanely unstable, undesirable, stupid and dangerous.
You're one of the economists on here, care to explain to me why?

Different areas can have different requirements when it comes to the likes of interest rates, liquidity, NGDP growth or inflation (depending on which way you look at monetary policy).

Slapping a single regimes over everybody is bound to result in some issues. One example, of course, was Greece lying about its economy and then bringing the entire euro down with it.

challengerX · September 30, 2014, 02:55:43 PM

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Kinder Graham · September 30, 2014, 02:57:43 PM

loloneworldcurrency

The world would be shit because of the economic issues in Africa, Asia, and eastern Europe. Just look what Greece did to the loleuro

Turkey · September 30, 2014, 04:36:31 PM

There's no need, and it's a logistical nightmare.

You'd end up keeping inflation rates, exchange rates, commodity values, etc., so basically all you'd have is a universal currency in appearance alone. You can make a standard set of bills and coins, but you'll never make them equal everywhere.

Dustin · October 02, 2014, 06:00:03 PM

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More Than Mortal · October 02, 2014, 06:01:09 PM

Quote from: Dustin on October 02, 2014, 06:00:03 PM

Well that wouldn't be very capitalist.

I'm surprised to find how true that statement actually is, to be honest.

BlitzFiend · October 02, 2014, 06:03:28 PM

Quote from: Meta Cognition on October 02, 2014, 06:01:09 PM

Quote from: Dustin on October 02, 2014, 06:00:03 PM
Well that wouldn't be very capitalist.
I'm surprised to find how true that statement actually is, to be honest.

Dustin · October 02, 2014, 06:29:51 PM

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More Than Mortal · October 03, 2014, 08:30:22 AM

Quote from: Dustin on October 02, 2014, 06:29:51 PM

And no that isn't a joke, even though that last bit sounds funny.

No, not at all. I agree.

More out of inevitability than desire, but it certainly doesn't look as bleak as some people would have us believe.

Risay117 · October 03, 2014, 10:11:14 AM

Because we have not globolized yet. Gold or the US dollar is the defacto global currency for now. But soon maybe Bitcoin will take its place. All we know is that we will need a global institution likely under the UN for it to exist. And that means giving more powers ot the UN.