The argument for a global currency by ProQuest


Until the recent financial crisis broke, there was a trend in world markets towards free market principles and a light touch regulatory regime. Political, social and economic factors had been leading to the creation of a world currency. A devaluation of currency has occurred in what has been for many years the base currency for the entire world, the US dollar. Because of the spread of American culture throughout the globe, this drop in the dollar may be a major step towards a globalized currency. People tend to consume and spend in patterns which can be influenced. As people continue to spend, behavioral patterns are shaped by many factors, which in turn shape the markets that coincide with the products or services that correlate. And like pouring cream into coffee, a world currency dilution will occur, one that will take other currencies off the table and more and more countries will accept the dollar again as their preferred currency.

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