This came up in conversation between my mom and I talking about Euros and how cool that is to me (Canadian). I then wondered why we can’t just have that everywhere and all she could say was “it wouldn’t work, what about less profitable countries” and I said “they’d just make/have less?” She did not like that answer and I really wanna know the real reason on why that wouldn’t work bc in my mind since we made up money why can’t we just make up how new money works???
Please explain like a teacher explaining why a kid can’t share 3 m&ms with 28 people
In: Economics
Control. Nations exert control over their economy by deciding how much of their money to print. Once you have a unified currency, nations no longer have that control. Europe managed to get it done because it’s relatively compact, mostly similar, and they have broad agreement on other things, such as the European Union itself. But that isn’t at all possible on a global scale.
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