Robert Mundell: World Currency

Posted by admin on Saturday, May 22, 2021

Robert Mundell Money Quote saying as a Nobel prize winning Canadian economist and father of the ‘Euro’ that a worldwide currency would be valuable. Robert Mundell said:
 
The benefits from a world currency would be enormous Quote
 

“The benefits from a world currency would be enormous” — Robert Mundell

 

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This quote from Robert Mundell is expressing the view that establishing a single world currency could potentially have significant economic benefits on a global scale.

Some of the benefits Mundell may have been referring to include increased trade and investment flows between countries, reduced exchange rate volatility and transaction costs, greater monetary policy coordination, and more stability in the global financial system.

However, moving to a world currency would also involve major challenges, such as gaining agreement among nations on its design and governance, as well as balancing sovereignty concerns over monetary policy.

Overall, Mundell seems to have believed that the economic integration and interdependence created by a world currency could outweigh the difficulties, though there are reasonable arguments on both sides of this issue.

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