Talk:World currency
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[edit] NPOV issues
Contrary to the statement in the entry,"Global Currency" that there will never be a global currency, the world WILL see a Single Global Currency, managed by a Global Central Bank, within a Global Monetary Union. The remaining questions are When and How smooth will the transition to that 3-G world be.
Paul Volcker has said, "A global economy requires a global currency", and Nobel Prize winner Robert Mundell has long advocated for a global currency. The establishment of the euro has shown the benefits of a common currency.
See the website of the Single Global Currency Association at www.singleglobalcurrency.org for more information. In April, the Association will publish the book, "The Single Global Currency: Common Cents for the World". Our goal is a Single Global Currency by the year 2024. morrison bonpasse President Single Global Currency Association Newcastle, Maine morrison@singleglobalcurrency.org
—The preceding unsigned comment was added by Morrisonbonpasse (talk • contribs) 16:36, February 18, 2006 (UTC)
- This article reads like an original research opinion/position paper. The whole thing starts with "this will never happen..." and goes on to argue that position. Salvageable? Non-WP:OR material on the concept available? Weregerbil 16:16, 26 February 2006 (UTC)
Very nice work, Lowellian. The article is much more appropriate for inclusion in an encyclopedia now. --Happy-melon 19:42, 15 March 2006 (UTC)
[edit] Fixing the example
In the "economical difficulties" section, the following example is presented:
- As an example, consider a hypothetical Country A that is a petroleum exporter and a hypothetical Country B that is an oil importer. If the price of oil goes up, this is an advantage for Country A, and a disadvantage for Country B. If the oil price goes up, this stimulates the economy of Country A; to avoid "overheating" the economy, Country A's central bank would support increasing the interest rate of Country A. At the same time, Country B's economy is damaged by the increased price of oil, and Country B's central bank would seek to lower the interest rate in order to stimulate the economy. However, Country A and Country B would be unable to do this if they shared the same currency.
I believe this needs to be fixed. First of all, no explanation is made of what Country A does with the money it receives for oil, or where Country B finds the money to continue buying gold from Country A. How the money "stimulates the economy" of Country A is also unclear - is there any reason the money couldn't be reinvested in Country B instead, resulting in a trade deficit for Country B?
And what's "overheating the economy" supposed to mean? Some people use it as a synonym for inflation, while others believe there is a bona fide problem with strong economic growth, inflation or no.
And Country B's economy is "damaged"? How so?
Note that this example implicitly assumes a free market for both goods (oil, at least) and investments. It also seems fairly trivial to tax investment in a country or subsidise it to achieve the same effect as higher respectively lower interest rates ...
RandomP 14:41, 2 June 2006 (UTC)
