Wasn't one of the ideas of introducing a common currency to be rid of
"currency speculation" instead of just banning or outlawing it at the
market level?
Darryl
On 1/20/2011 10:29 AM, Ed Weick wrote:
I would agree that where cultures are as different as those of Native
Americans and Europeans there is little hope of finding common cause.
One wins; the other loses. However, in the case of countries of the
EU, cultural differences are relatively minor. What they did in the
case of the Euro is adopt a common currency but continue to maintain
control over their respective economies. The result has been a rather
messy mess, which is something that often happens when idealism trumps
practicality.
Ed
----- Original Message -----
*From:* Ray Harrell <mailto:[email protected]>
*To:* 'RE-DESIGNING WORK, INCOME DISTRIBUTION,EDUCATION'
<mailto:[email protected]>
*Sent:* Thursday, January 20, 2011 9:16 AM
*Subject:* Re: [Futurework] Euro encore
One should remember that the U.S. and Canada have a very poor
record with this. As long as the immigrant mix is uniform then
the currency can follow but when you have vastly different ethnic
cultures in states then the cooperation tends toward patronizing
competition and creates disharmony. Think Iraq as another
example. The Europeans couldn't have competing societies and
societal forms with us so they basically committed genocide to
disempower us rather than cooperate and build a common future.
Racism is another version of same. In my mind this proves the
fallacy of "economics as the core value" [i.e. wealth as the
definition of value,] of a society. Money follows what truly
is the core value of a society and that value is culture and the
web of relationships and assumptions culture creates [or maybe
religion] but it definitely isn't business or investments.
Business is amoral and favors solutions that piss people off.
It took a thousand years for China to arrive at their harmony
and it is still tenuous with their different languages and ethnic
strains. Such disharmony is the reason that native peoples
couldn't resist the invaders from Europe. It's also the reason
that empires are always bound to fail as a system. Admittedly
this is simply my opinion. Prove me wrong.
REH
*From:*[email protected]
[mailto:[email protected]] *On Behalf Of *Ed Weick
*Sent:* Thursday, January 20, 2011 7:43 AM
*To:* [email protected]
*Subject:* [Futurework] Euro encore
And more Krugman. The idealistic concept that a bunch of
countries with differing problems and different fiscal and
administrative systems can operate under a single currency is
bound to unravel.
http://www.truth-out.org/the-eur-flailing-threatens-europe66926
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