Why There Won’t Be One Global Currency
thecontrol.co
Why There Won’t Be One Global Currency
1–4 of 4 posts
Re: Why There Won’t Be One Global Currency
#2There already is, and is called bitcoin.
Re: Why There Won’t Be One Global Currency
#3There already is, and is called bitcoin.
The idea of an "Optimal Currency Area" is a long standing area of economic research and shows clearly why having one currency is not ideal. Bitcoin is cool, but it doesn't change fundamental economic realities...
Re: Why There Won’t Be One Global Currency
#4Love the discussion of “Optimal Currency Areas”. However, some people argue that even the dollar has issues, since it unites a large area with very different economic realities at the local level.
Here’s a piece that blew my mind on the subject connecting quantitative easing & housing shortages with the idea of Optimal Currency Areas. Basically, the author, Yale Professor, David Schleicher argues that since housing supply is severely constrained in certain places like San Francisco and New York, the Federal Reserve is unable to satisfy the dual mandate of low inflation and low unemployment at the national level without causing inflationary pressures in places with tight housing markets (ie San Francisco).
Agree or disagree (and I tend to agree), it makes for a great read!
https://digitalcommons.law.yale.edu/cgi/viewcontent.cgi?arti...