It would seem more efficient to have a single currency in existence. It would ease commerce and promote globalization.
Is it possible to have a global currency? What conditions would be required and how likely/soon will they be met?
I think there are a lot of countries out there and that adopting a single currency would require a critical mass of countries to relinquish the power (and prestige) of printing your own money (especially if your mug is on it).
For it to work, a global bank would have to issue controlling shares to each country in exchange for those concessions. The mug could stay on as long as the denomination reads 10 Kudos/78 dollars. Along with the shares, printing presses would have to be installed in each country for more control.
How do you stop a country from printing more money than they are entitled to? The global bank could demand control (dead switches, monitors, inspectors) but I doubt this would work. Can anyone think of other ideas?
Another question: Is having multiple fluctuating currencies a flaw that the dawn of the global village will eliminate? Or is it a defense mechanism that has proved helpful and is going nowhere?
I’d very much like to know the answer to this one!