Nobody downloaded yet

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

Comments (0) Cite this document
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. …
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.6% of users find it useful
The argument for the institution of a world currency
Read TextPreview

Extract of sample "The argument for the institution of a world currency"

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
Cite this document
  • APA
  • MLA
(“The argument for the institution of a world currency Assignment”, n.d.)
Retrieved from
(The Argument for the Institution of a World Currency Assignment)
“The Argument for the Institution of a World Currency Assignment”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The argument for the institution of a world currency

Financial institution

...the return for bearing additional risk (Investopedia, 2010). If the expected rate of return on a security is more than the required rate of return then the investment in profitable whereas if the expected return is less than the required rate of return then the investment is not profitable. Unlike Mean Variance Portfolio theory the CAPM model rewards for the excess beta or additional risk borne by the investor. Higher the beta higher is the compensation required by the security. As per this model a higher ‘standard deviation’ does not mean a higher return as ‘beta’ is the measure of risk under CAPM and not ‘standard deviation’. In the CAPM world an investor is rewarded for bearing the risk that cannot be diversified....
11 Pages(2750 words)Essay

Dollar Instability as World Reserve Currency

...Dollar instability as world reserve currency Introduction The United s dollar is probably the closest thing to global currency that the world has seen. The U.S. dollar has been the dominant currency in international trade for decades. This dominance has been of tremendous benefit for the financial system of the U.S. and her consumers. The U.S. government has gained tremendous influence and power around the world because of use of the dollar. Today, the U.S. dollar accounts for more than 60% of foreign currency reserves in the world. This scenario is about to change (Lorimer n.p). Though the mainstream...
3 Pages(750 words)Essay

Institution Affiliation

...competing effectively with other companies. According to an argument by Rantanen (2005), competition in the market has changed since the days when an established company had a ready market. Emerging companies have the potential to have success in the crowded environment if they have an efficient marketing strategy (Ferrell & Hartline, 2010). Since last year, many mobile phones company have come up with new models of their products. The advancement of handsets has increased the level of competition in the market. In the year 2012, mobile manufacturer Samsung has released new models of phones in the market. New models of phones have more complex features. The complexity of these phones is what makes then attractive for the...
3 Pages(750 words)Case Study

The argument for the institution of a world currency

...and cumbersome barter trade hence token money informs of paper currency has gained preference. However it is worth noting that paper currency itself is not enough to define or determine monetary based economy. For instance delivering goods to a customer who would pay later makes the buyer the debtor and you as the seller the creditor, such transaction is not monetary based but credit economy. There are three major vital conditions required for money based economy to exist. Money should be in token currency to limit chances of barter trade. Money should also be accepted by all parties i.e. the sellers and the buyer as a means of payment, this limits credit transactions. Agents making...
3 Pages(750 words)Essay

Are we heading for a world currency

... Are We Heading For a World Currency Yes, we could be heading for a world currency, but the possibility of getting one anytime soon is minimal. The growth of globalization, a process that has been going on for over 5,000 years, necessitates the need for a single global currency (SGC) (Bonpasse 89). There have been debates for and against the idea, but no closing conclusion has been reached yet. Most arguments provide that, in the foreseeable future, the closest the world can get to a SGC is to have currency zones such as the U.S. zone, Euro zone and the Yen zone (Volcker 8). Local markets are the key factors that created such zones. They seem to prosper economically if they are trading in one regional currency. Personally, I agree... as the...
12 Pages(3000 words)Essay

The Argument for and Against a European Single Currency

...for controlling its various parts and activities (Arestis et al. 2001). The establishment of the ‘European Monetary Institute in 1994’ (Arestis et al. 2001, p.29) was considered as a necessary step for promoting the creation of a single currency zone. In the years that followed, the arguments for the single European currency have been quite strong. More specifically, it was supported that a single currency could result to ‘lower prices and better resource allocation’ (Stivachtis 2013, p.329). In such case investment in the Union would be highly increased, a fact that could result to the significant increase of productivity and the limitation of...
8 Pages(2000 words)Essay

International Currency

...ways that the dollar might depreciate using 2005 data as our baseline (Figure 2). In the first, the dollar depreciates evenly by 33 percent against all other currencies2. In the second, Asian countries abandon their de facto peg to the dollar and their currencies appreciate more than other global currencies. In the third, Asian countries maintain their de facto dollar pegs and the dollar depreciates only against the euro and other world currencies such as the Canadian dollar and Mexican peso. Figure 2: Variations of dollar depreciation Source: McKinsey Global Institute analysis In any of these cases, even with a balanced current account in 2012 the...
20 Pages(5000 words)Essay

Currency Act, the government would have to admit it simply ignored the referendum aspect of the original Currency Act. Despite the fact that an amendment or repeal to the Currency Act is, in effect, illegal without referendum, the establishment of the euro as the official currency of Great Britain would not be too difficult a feat if the government was decided on a course of action. This is particularly true because of the European Monetary Institute. The Institute has two main objectives, one of which is to make the necessary changes and upgrades to European banking systems for the oncoming implementation of the euro in replacement of all other...
2 Pages(500 words)Essay

Social Institution

... authority exist among the members of a family. The evolving traits of the family’s structure are best explicated by sociological theories such as functionalist, conflict, and interactionism. Functionalist’s Perspective and Family Functionalists view that every society has interrelated social institutions, including the family, the educational institutions, the religious sects, the government and political system, and the mass media (Giddens & Griffiths, 2006). Each social institution contributes toward the advancement of the society. Since every society operates based on the consensus of its members, it serves the best interest of the general populace. In particular, functionalists emphasized the value of social structures than... that of...
8 Pages(2000 words)Research Paper

Institution Affiliation

...Week Six Assignment Affiliation Problem Determining and Evaluating the Effects on the Balance Sheet, the Income ment and the Cash Flow Statement of Four Different Cost Flow Assumptions for Inventory 1. Assuming the use of a periodic inventory system, prepare a summarized income statement through gross profit for the month of January under each method of inventory: 1. Average cost. Transactions Units Total Amount Total sales Inventory, January 1, 2011 500 @ $6.00 $3,000 Purchase, January 12 600 @ $7.00 $4,200 Purchase, January 26 200 @ $7.10 $1,420 Total 1,300 units $8,620 Sale (400 units sold for $20 each) $8,000 Sale (300 units sold for $20 each) $6,000 Total 700 units $14,000 Goods available... Six Assignment...
2 Pages(500 words)Speech or Presentation
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Assignment on topic The argument for the institution of a world currency for FREE!

Contact Us