Could the world have one money denomination?

Question

I f the entire world had one money denomination would it solve the food and oil crisis? Being that the dollar is so weak and cannot keep up with the euro. There would no longer be any speculation and competition. Would this actually work?

Answer 1

i like it how it is, its fun

Answer 2

Yes.  It will eventually happen.  As the people's struggle towards a one world government, one world religion, and a one world economy, there will be a one world currency as well.

But what form will it take?

http://en.wikipedia.org/wiki/Amero

President Bush has already suggested the Amero to replace the dollar as currency for the North American Union (Canada, America, Mexico).

Answer 3

most likely, it would not work.  having a common currency (like the euro) only works when the economies involved are at a similar level of development.  the developing countries would demand growth-oriented monetary policy (lower interest rates and more inflation) and the developed countries would demand stability-oriented monetary policy(less inflation).  also, there would be problems when economic situations among countries differ.  if one country's in a recession, they would demand policy that deals with it, while the rest of the world would want different policy.  also, some countries like having their currency low (e.g., china) to stimilate exports.  so maybe in the future, when economies become more similar, but now, there are too many differences and potential conflicts to have a unified currency.