Why don’t we have a world currency?

7 Answers

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   not I said the ape on Dec 27, 2011 Reply

   the USD is the world reserve currency. having more currencies allows for more assets to trade, more brokerage commissions, more wealth as a result of more financial assets, more opportunities available to investors and producers, and more alternatives as fail safes

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   meg on Dec 27, 2011 Reply

   Because variation in the exchange rate of currencies compensate for the restriction on the movement of workers between countries.

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   kyle on Dec 27, 2011 Reply

   If the world all had one currency then their would be no mechanism to balance out the trade imbalances between the nations. This is the problem in Europe right now. They have no way to balance the trade imbalances which is why Germany a net exporter appears strong but greece a net importer looks weak. The currency system is inherently flawed because of this. If the world goes to something like this all countries would turn into currency users instead of currency issuers and the whole world would suffer. Go to pragcap.com to learn more of how modern money works.

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   Spotty J on Dec 27, 2011 Reply

   To second what Kyle says, different countries need different things from their currency at any given time. Shackling different countries with different needs and different levels of productivity to a single currency — none having any monetary flexibility — is a recipe for disaster. Right now Europe is absolutely on the brink of total disaster because of the mistake of adopting the Euro. This is not a mistake we want to repeat all across the world.

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   Sipra M on Dec 27, 2011 Reply

   *One currency for all – ha ha ha. Not possible. You are not watching the problems facing in EURO?
   * Still we talk in terms of developed, developing, Third world country.
   * economically powerful nations think they are the only God creation and others -go to hell.
   * Go through economic history – how developed countries now created their wealth?
   * Even to day developed countries are after the oil resources countries and playing the role of big brothers.
   * All developed western countries give advice to others but for themselves – are main cause of all human sufferings, Global worming, natural resource shortages.
   * One currency means have not becomes more have not – again slavery system will come.

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   Waqas on Dec 27, 2011 Reply

   to make a world currency all the countries of the world should be called and make them agreed upon this. this is often not possible because every country want to make his own superiority

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   ??????? M?? Mr Cano?'s Dirt? Elf? on Dec 27, 2011 Reply

   I know, right. it would be so much easier for blind people who like to travel the world. they don’t have to guess which bill they are reaching for in their wallets.

   I believe we are heading in that direction though.

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