Topic: If the world uses a single currency - page 15. (Read 1832 times)
In essence, the story is this. The benefits of a single currency are an easier comparison of prices and somewhat reduced transaction costs. The cost of a single currency is a more difficult adjustment process to regional shocks. Imagine, for example, that Iceland has a negative shock because of a decline in fish stocks. Wages in Iceland must fall compared to wages elsewhere in the world. With a single currency this has to happen with microeconomics adjustments, namely wages must fall. No one, however, likes it when their wages fall wages are said to be downwardly sticky and most economists think this downward adjustment can take a long time and involve more unemployment than necessary during the long adjustment process. If Iceland has its own currency, however, the adjustment process is easier: only one price has to change namely the price of Iceland's currency falls so Icelanders have a lower real wage (they can afford to buy less from the rest of the world) but the same nominal wages in Krona. The adjustment process is easier
Everything can be possible because, man has every power but, first we have to spread rapid awareness campaigns as KFC did.
This is dire need of time to spread awareness about bitcoins. How they are affective for the lives ofpeople and how they can make their life amazing. But the point of disappointment is, the developing team itself is not working much on this. Although there are some advertising campaigns but they are no to be seen on social media or any otherelectronic media. We need to work on this area. i dont know, i think the world use single currency is not gonna be happened.
because the countries around the world has their variety of incomes.
If the world uses a particular currency, there will be a lot of things affected, such as currency conversion fee functions that will be canceled because countries will no longer need to convert currencies. Shared the same money, this can also make the economy more stable and not afraid of fluctuations from foreign markets anymore. because the countries around the world has their variety of incomes.
That’s nonsense. It won’t make any sense, and will just lead to destruction and more problems than the ones we have now. Most countries will even feel cheated and some will use it as an opportunity to oppress others. It’s not a good idea, so I don’t support it. Even those who are working as civil servants will feel cheated when they find out that the thousands they are been paid in their country is worthless. It’s better everyone continue as they see things.
If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.
This is something that can not happen. Maybe you want to express bitcoin will be the currency that people all over the world use. However, you ignore the fact that each country has a different national situation, different historical cultures and developments. It is very difficult to unify.This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.
Can't agree more.
The difficulty of unifying the currency is really high.
Take Europe countries for example, the use of EUR has been years, but not all Europe countries uses EUR.
Its interesting but won't happened unless the world united in one nation. The answer is simple because there are lots of culture around the world, and government is the one on the top that manage to unify the culture in a region into a country. When meet with other country from far away, simple example like chinese and americans.
How did they connect and trade? Who will accept which one currency is better or worse? None will succumb and therefore a world with single currency wont happened unless a big catasthrope or fallout wipe half of the earth population which make no choices other than accepting one leader and become one nation. If there are still many nations and world leaders, there wont be any leader who will submit to others because it means they're being colonized by other
How did they connect and trade? Who will accept which one currency is better or worse? None will succumb and therefore a world with single currency wont happened unless a big catasthrope or fallout wipe half of the earth population which make no choices other than accepting one leader and become one nation. If there are still many nations and world leaders, there wont be any leader who will submit to others because it means they're being colonized by other
I don't think it would stabilized the economy of some third rate country that had slow economical growth especially on Asia and Africa were their primary sources of income are agricultural products. Whose investor wants to pay 1000 usd per employee?
It would be interesting if all the countries in the world share the same currency, now it is in the first place if it wants to grow and surpass that dollar. Building up and more interested in, I think virtual currencies such as Bitcoin or Ethereum have an excellent future, and I think that in the future these currencies will dominate the world. A single currency is when a number of countries join their currencies together into one ... add up to the possibility of increased inward investment from the rest of the world into Europe.
Well, single currency used world wide that is impossible to make it because it takes time to agreed among the government in countries to have like that amendments.
A single currency is when a number of countries join their currencies together into one ... add up to the possibility of increased inward investment from the rest of the world into Europe.
If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.
Well we need to understand that in order to do that the power and influence of the certain nation should be limitless. And I think before this will come into existence there will be a World War III in which the victor can be free to declare anything it wants. This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.
This idea idea is possible but its possibility proceeds war and aside from that there also no assurance for the growth of economy for implementing such thing as long as greediness can't be eliminated.
If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.
One currency uses for all people in the world which is BITCOIN CURRENCY is much better, but that particular movement of Bitcoin Price Value is still moving like bubble I think this is not acceptable to achieve for the good economy for every country, they need to be change another option of price standard if it is operated for the entire country,.. the good impact of BITCOIN CURRENCY is very quick processing.
A single currency for all nations is very remote. It is not even a problem that there are many national currencies. The problem is interchangeable of these currencies at the lowest cost.
This is the beauty of cryptocurrency. It makes changing of currency seamless and cheap. That is why some people believe we could have a common world currency. But remember, it could be controlled. Whereas cryptocurrency is decentralized, making it the best option.
This is the beauty of cryptocurrency. It makes changing of currency seamless and cheap. That is why some people believe we could have a common world currency. But remember, it could be controlled. Whereas cryptocurrency is decentralized, making it the best option.
Single currency is not possible because different nations have different economic condition, some countries are underdeveloped and they cannot accept single currency system which will worsen their economy even worst. May be Bitcoin can be considered as universal currency for all the nations but for that every country need to have internet provided infrastructure first.
If the world uses a single currency, will the economy be more stable?
I don't think it increases economic stability, but I do think unifying currency lowers redundant transaction costs.
We cannot use a single currency I think it causes more trouble in every country. Just like in your family why do you separate from them because you want freedom. We need a independent.
Ofcourse yes because then there will be total erradication of poor and rich nations providing equality
There will be more trouble than convenient, because one currency parctically means one state or nation, so it will be maasive nation and massive population, the main problem will be the gap between the rich and thepoor will be huge with one or two state become the rich and the others become the poor, just like what happen in europe nowadays.
In fact, the trouble will be huge and what we may have to start fighting for globally is who is going to be the world power. I do not see how this can happen anyway as it does not sound realistic. Every independent country can decide on which currency to choose and unless every of them then decide to choose only one currency, it is not something that sounds feasible at all and I totally love the analogy you made use of.One thing about humans is that we love assuming things that we already know the possibility is close to none. There is really no point debating it, but rather than assuming what could happen, what if we just wait to see if the moment ever comes or not before we start thinking of where it could lead to. The first question is who is going to be in control? And unless it is Armageddon, I do not see how this wants to play out.
Honestly, it may happen at some point in time. Not to be a conspiracy theorist but have you heard of the new world order? Having a single currency is included in that theory. Is it BTC?? Who knows but it can certainly fill that gap for many countries.
I do not think so, the currency of each country will affect the country's import-export circulation. If this currency is removed, then this circulation can not be controlled...
I think this system will take a lot of time and evaluation, because the economic situation in every country in the world is different. If we talk about global change, there are many factors to consider, such as, the economic system, the stock market, the world market, the economic situation, and so on. A unified currency will break all these factors and will bring many changes to the market today.
I think this will make the economy very stable, but because of the government's desire to regulate their respective countries, then this good thing is difficult to implement.
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