North American Monetary Union Free Essay, Term Paper and Book Report
Across the European Union an amalgamated dollar has become a common and universal token, uniting countries and economies. A similar concept of bringing together all North American currencies has been explored by several economists, though there is much disagreement in the economical and political benefits that this may offer. The idea for a single currency in the United States, Mexico and Canada has commonly been introduced as one of two approaches. The first approach entails each country adopting a current currency or better known as dollarization. The second approach is a monetary union whereby a new joint currency can be developed and managed by a number of countries. The proposal for the North American currency or more commonly known as the Amero was first introduced in 1999 by Economist Herbert G. Grubel from the Frasier Institute in a publication titled The case for the Amero. Grubel argued that a North American currency will reduce the size and risk of foreign-exchange operations engaged in by banks, firms, and travelers as a routine part of their economic activities.......
Word Count: 1196
Page Count: 4.7 (250 words a page / double spaced)
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