Would the world ever adopt a single currency and what would be the impact of this on global economy?

Answer 1

I believe there is a lot more leverage with the world economy, due to having multiple currencies. If one currency worsens, others may not do as bad, therefore spreading the risk of collapse.

Answer 2

>> The 'Euro' has been brought in for Europe. The main advantages of this single currency is mostly for the tourists....It makes it so much easier if travelling around Europe to not have to change currencies when entering a different country in Europe.
Before the Euro, all the different currencies could be very confusing for tourists.
Whether there will be a global currency? Who knows?Counterfeitting could be a major problem if this occurred though.

Answer 3

There would be only one central bank to conduct monetary policy for the whole world so downturns in a national economy could not be counteracted by policy. This could cause problems. Usually common currency regions also permit free movement of labor.

Answer 4

I say no way soon, how would the US deal with counterfitting, we have trouble as it is with just our currency, imagin if all the groups was just focusing on one thing to counterfit. I would expect inflation to skyrocket due to this.

Answer 5

I think it's unlikely, for this to happen all the world would have to be on good terms with each other. it probably wouldn't help some countires economies either.

Answer 6

I belive that it would be much easier but on the other hand it would be too confusing for a couple years...and also there would be a lot more problems with counterfiting.

Answer 7

well that would be great then we wouldnt have to learn converting currencies in geography!