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The argument for the institution of a world currency - Assignment Example

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A single currency and that too in a uniform way would mean immense financial freedom for all and sundry. The institution of a singular currency would resolve many problems that exist today. …
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The argument for the institution of a world currency
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Download file to see previous pages What this will essentially do is to make sure that any impediments that remain within the midst of currency discussions are resolved in an amicable way. It will also touch upon the essential aspects related with the dealing of financial litigations that take place every now and then. What is even more interesting is the ideology that a single world currency would do away with the exchange mechanism which is present in different countries of the world. There would be fewer financial lapses and the world will become a much better and economically safer place. However, for now what is really required is a vision to have a world currency that can resurrect the structures of these markets. It would mean that this world currency takes into perspective the ideology that no currency is bigger than the other and all individuals within this world have uniform status. When this happens, the people will understand the dictum of change that is coming about within their ranks and that too for all the right reasons. Hence what remains now to be seen is the fact that the institution of a single currency would bring benefits for the sake of the people, and if the same happens, what are the negative repercussions in the aftermath of the adoption of one such currency. The first and foremost problem that could come about in the wake of having a single currency would be to properly demarcate the basis of the wealthy and poor economies in this day and age (Semmler, 2011). This would mean that the dominant superpower nations of the world which have renowned currencies of their own would have to let go their respective ones. This world currency would have the power to turn heads and have a singular belief that all types of people are catered to, without any discriminations whatsoever. It would also make sure that any predicaments that do arise within the wake of adoption of this world currency are taken care of at the earliest because apprehensions regarding the same cannot be deemed as affordable at all. This is so said because the world currency would present a singular vision of the world and keep the rich and the poor on the same platform. It would tell them how they have to conduct their own selves for the global good, which is of a collective nature nonetheless. This is important because in the current times, there is a great deal of anarchy that one can see when it comes to the financial regimes. The adoption of a world currency would mean that there are fewer issues that surround the currency domains and more collective harmony for the people at large. However, some people might have different views altogether because they think distinctively and thus have a viewpoint which is not in line with the same. But then again, there are some people who would believe in the dictum of having a world currency for the wellness of the human beings on this planet earth. The institution of a world economy would guarantee that the divide between the rich and the poor is resolved in an amicable way. This would mean that the currencies that are rampant in the world are given a relief because much has been credited upon their shoulders, and not entirely for all the right reasons. There are immense negatives that have come about in the wake of understanding the dictum of too many currencies spoiling the world image (LeRoy, 2011). The people have realized these anomalies as well and are doing their utmost to resolve the ambiguities which are widespread in the lengths and breadths of the different nations of the world. Now is the time to bring about a change and this change can only happen when there are more good points than bad. The adoption of a world currency is one such positive that can be cashed upon. It will make this world a better economic ...Download file to see next pagesRead More
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