Thursday

Comtemplating a World Currency


With Europe already achieving in the creation of the Euro, and Former Mexican President Vincente Fox fighting for the Amero, how long will it take until the world comes under a single currency?

It's impossible to tell. But how would it effect us?

Currently, values of different types of money go up and down and effect everyone else. When the American dollar drops in value, so does the Canadian, Mexican and Japanese (usually) and when we travel we constantly have to change our money for their money and vice versa.

But if we operate in a world economy, what would be the harm of having a world currency? It seems as though it wouldn't hurt anyone, and it would probably stabilize the world economically for a bit, and keep countries all over the world from risking inflation.

One of my professors had talked about a time in Germany right before the Nazi Regime, where the German dollar was almost worthless, and it would cost hundreds of them just to reach the value for a loaf of bread.

This would of never occurred if it had been under world currency, and perhaps then the German people wouldn't have been exploited so much by Hitler, which would of had an effect on our world history as we know it.

Now, I'm not saying WW2 happened because we didn't share the same currency - that would be ridiculous. But I do think in a time where the American dollar is dropping in value daily, that we consider the option of establishing such a currency, or at least talk about it a bit.

1 comment:

Sam said...

I was reading article about this, and they mentioned that, since introducing the Euro, production in the area has actually gone down. Apparently, the smaller nations in the area took advantage of their increase in purchasing power and didn't bother to try to compete with the bigger nations.
Haha, just something to think about.
:]
Not to mention I can't see a world currency working before we have a "world government"... which doesn't seem too likely in the near future, haha.