like the fact that $100 in jamaica is like $10 here & etc.. why couldn’t we all use the same currency? or not even the same currency specifically but like have $10 here be the same thing as $10 in canada or $10 in africa etc etc.
In: Economics
Having its own currency allows a country (either the government or the central bank) to control the economy to some extent. The government can issue extra money in times of economic downturn (like now) to stimulate the economy. The problem is that this causes inflation, because there is more money around. If there was one currency then every government would have to agree to do that, which is not realistically going to happen. Even within the Eurozone there is disagreement between certain Southern European countries that have a history of devaluing their currencies (issuing extra money) and notably Germany that does not wish to do so.
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