Opinion | The Economist Who Foresaw Our Global Economic Order - The New York Times - 0 views
-
Charles Kindleberger thought there should be one world currency, and he had a candidate: the U.S. dollar. He argued that there would be more trade, cross-border investment and prosperity if all nations either adopted dollars (as, say, Ecuador has) or tied their currencies to the dollar at a fixed exchange rate, which has almost the same effect.
-
A multiplicity of unpredictably fluctuating currencies discourages trade and investment by injecting uncertainty into business decisions.
-
Kindleberger’s one-money philosophy made him an outsider in academia
- ...10 more annotations...