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Overnight Open Thread

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godfrey2/19/2009 7:48:16 am PST

re: #1143 Guanxi88

Thanks, and you’re absolutely right about that. Big disparities in currency values are bad for everyone. The best condition for everyone, though I’m not an economist, is to have a reasonable number currencies of roughly equal value in similar but not centralized banking systems. That way, goods and services (and securities) can flow easily in both directions, and banking systems are not so centralized that failures become widespread catastrophes.

Education is the key to all this. If nation-states can continue to educate their citizens and free them to invent things and take risks, then we’ll have a teeming little global economy with lots of economic “biodiversity.” If the world continues toward an economic monoculture, with centralized control and a**holes like Soros calling the shots, we are all in very serious trouble.