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Ideas Globe > Economics/Politics > Finance/Money


finance-and-money

Finance/Money

How do the world's nations feel about a global currency? China and Russia have repeatedly called for a new global currency to replace the dollar. And Pope Benedict  recently called for a ‘world political authority’ to manage the global economy. A global currency would be a key central plank of a future system of world government.

Nations give up some of their national sovereignty when they join with others in a trade or political pact. For instance, the European Union started out as a free trade zone and has established considerable political integration over a period of several decades. As part of this unification the Euro was developed and has held its own against the pound.

So, should we have a single currency or more than one currency? Many people believe that having multiple currencies creates a banking scandal whereby bankers make money from moving money around currencies and lending people money at high interest rates so that they can't afford to pay them back.  

Will our future planet need more than one monetary system?


Resources:

THE Future of finance The LSE Report

Nef: A Bit Rich: Calculating the real value to society of different professions
Nef: The Ecology of Finance: An alternative white paper on banking and financial sector reform November 2009
Nef: The Great Transition
The first report of A Green New Deal: Joined-up policies to solve the triple crunch of the credit crisis, climate change and high oil prices
The second report of A Green New Deal: Why spending on a Green New Deal will reduce the public debt, cut carbon emissions, increase energy security and reduce fuel poverty
United Nations Economic and Social Council: Analytical Background study (Mutual accountability and aid transparency)
United Nations Economic and Social Council: Support to UN Development Cooperation Forum 2010