If the world uses a single currency

[Janodevera]

In essence, the story is this. The benefits of a single currency are an easier comparison of prices and somewhat reduced transaction costs. The cost of a single currency is a more difficult adjustment process to regional shocks. Imagine, for example, that Iceland has a negative shock because of a decline in fish stocks. Wages in Iceland must fall compared to wages elsewhere in the world. With a single currency this has to happen with microeconomics adjustments, namely wages must fall. No one, however, likes it when their wages fall wages are said to be downwardly sticky and most economists think this downward adjustment can take a long time and involve more unemployment than necessary during the long adjustment process. If Iceland has its own currency, however, the adjustment process is easier: only one price has to change namely the price of Iceland's currency falls so Icelanders have a lower real wage (they can afford to buy less from the rest of the world) but the same nominal wages in Krona. The adjustment process is easier

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[moneyangel]

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

This is far to be happen. Every countries has their own unique economic growth which is not applicable to others.  If you will put a single currency of all country then where you want to be the basis...It's difficult because it will create chaos to the people.

[shuvo999]

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

This is far to be happen. Every countries has their own unique economic growth which is not applicable to others.  If you will put a single currency of all country then where you want to be the basis...It's difficult because it will create chaos to the people.

We can use single currency as a secondary currency of the world that unites all of us in real means but it would not be wise to make it the mainstream currency of the world knowing that every state has different economical growth.  PLUS it si not easy to do so.

[arienna23]

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

This is really imposible. Making the world with only a single currency can be bad. making trades from different things and daily need at a same price from another country to another. We may have some currency that most of countries can agree with it can be cryptocurrency such as Bitcoin to be an example it can be used almost worldwide.

[johnnythunder]

That is garbage. It won't bode well, and will simply prompt devastation and a bigger number of issues than the ones we have now. Most nations will even feel duped and some will utilize it as a chance to mistreat others. It's not a smart thought, so I don't bolster it. Indeed, even the individuals who are functioning as government employees will feel swindled when they discover that the thousands they are been paid in their nation is useless. It's better everybody proceed as they see things.

[decoder88]

It is impossible to have single currency. Some of countries will not approve to make our currency as one. They have their own sovereignty and they will not easily loose their currency in a bubble thing.
Unless bitcoin is not stable and the source of it is not clarified, there is no single currency for the world.

For me it is impossible that the world will use a single currency because it is hard for the world to adjust in just a snap. It will take a lot of time for people to adjust in it. I also think that countries will not approve the idea because to have a single currency in means of trading different things is not a good idea.

[longhair0418]

If the world uses a single currency, it would have a high possibility to benefit world economy due to lower cost and transaction than before.
However, it is very hard to come true because it would have conflict between different countries.

[Lyne01]

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

If the world will have one currency, it will be easier to access things. You do not need to worry on the exchange of the money, and the value of the money. The prices of all products will also be the same. On this note, people will be more stable on their places and they do not need to work abroad.

[zergenyt09]

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

One currency uses for all people in the world which is BITCOIN CURRENCY is much better, but that particular movement of Bitcoin Price Value is still moving like bubble I think this is not acceptable to achieve  for the good economy for every country, they need to be change another option of price standard if it is operated for the entire country,.. the good impact of BITCOIN CURRENCY is very quick processing.

Everything has its own advantages and disadvantages. Same is the case when we talk about usage of only one currency in the entire globe. In my opinion, this will prove out to be really good step but there are number of things which will cause troubles and that it will be very much difficult to convince everyone for using of one currency. It will help us in using that single currency in every corner of the world too.

[nonsonote]

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

I think that would be a total mess. Well those countries that will benefit will only be the rich countries. And there won't be anymore currency trading. For example you have a business and you want to go global because the monetary value of the other countries are higher so you thought that you can benifit something from it. But it would if we had only a one currency  you can't have any profit anymore. So I think it's not really a good idea having a single currency. And beside from that each country has a central bank where they decide the value of the currency of their country so that they can regulate the economic state of a country. So if the third world countries has the same monetary value of the rich countries I think the third world countries will only get poorer.

[Maestro75]

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

For one thing, the market will (and can) never be stable even if a single currency is adopted. Instability in the market of monetary value of currencies is what makes the market profitable and exciteful. I am even talking about fiat, and not cryptos (as cryptocurrency is still a mirage to be adopted by countries let alone the globe.) What better improvement has there been since the countries in Europe adopted the euros as their single currency? Or what about in Africa where a single currency is already mapped out for the countries in ECOWAS. Any improvement? Certainly no.

[yvesp110]

If the world uses a single currency, it would have a high possibility to benefit world economy due to lower cost and transaction than before.
However, it is very hard to come true because it would have conflict between different countries.

Now that we have different currencies already whether physical or digital, it is really impossible for all the governments of the world to agree up on only one currency. Those who have the ruling currency, will never consent to it. Above all, why would anyone destroy its coin? However, it is a sweet dream to live in a world which have only one currency. But it is good to be real and never think of such impossibilities as its total wastage of time.

[acener]

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

I guess there is nothing wrong with the world only using one currency because it may develop an orderly world. Although, there are still factors that we have to consider such as the different resources from different countries. We may have to balance everything out before it would be implemented.

[glavos]

How would this be possible? The economy is gonna collapse. Not to talk about that its impossible to inforce a single currency over all countries.

[Cherylstar86]

How would this be possible? The economy is gonna collapse. Not to talk about that its impossible to inforce a single currency over all countries.

Actually, the economy can't collapse easily which they need more study, before a one currency will be implemented. Well, in my opinion to have a single currency is not possible but only on our own wallet having a different currencies convertible value on what countrt where we came from which can still be manageable by our economy.

[jhean_arcane]

How would this be possible? The economy is gonna collapse. Not to talk about that its impossible to inforce a single currency over all countries.

Actually, the economy can't collapse easily which they need more study, before a one currency will be implemented. Well, in my opinion to have a single currency is not possible but only on our own wallet having a different currencies convertible value on what countrt where we came from which can still be manageable by our economy.

I have a crazy theory. One currency can only be possibly implemented after World War 3 will take place. After that, the economy will definitely collapse and there will be a lot of peace talks. Honestly, with a lot of things going on with this world, WW3 is not far from happening. Many proxy wars are happening, especially in the middle east and there are a lot of global unrest now.

Single currency will be the solution to repair that economic collapse. With the advanced technology, I can only think of cryptocurrency. The question is, will it be bitcoin?

[jeanpadel14]

I think it's a good idea that only one currency is used by the world and a value too .. maybe less ofw those who are coming to other countries to work and earn big money and convert to php value.Like the philippines.But i think its impossible to happen because every country have different resources and many factor to consider before single currency implemented.

[portotoi]

If the world uses a single currency, it would have a high possibility to benefit world economy due to lower cost and transaction than before.
However, it is very hard to come true because it would have conflict between different countries.

Exactly. If this single currency in the whole world is implemented, it may cause chaos around the world. I don't think china, Venezuela, US, Germany, Philippines, Korea, Japan, Taiwan or any other countries would allow to use another currency not their own. They may fight for their currency to be used in which this currency is representing their country. And the economy of each country will be in a big trouble if that will happen.

[eolitic]

i think that hypothetically the idea of single currency is definitely worth thinking about, but i am pretty sure no country will agree to have it, cause will cause controversial consequences. this might happen, but definitely not in the nearest future

[Lucas Riley]

This depends on who is in control. in the wrong hands this could usher in a totalitarian state identical to George Orwell's 1984. Thats if you don't consider his vision already true.  The world probably would be extremely more efficient if operating on one currency that was decentralised but for some reason I cant see this happening considering its never happened in the past. There is something nice about having different currencies, something would be lost in a world with one currency.