If you are talking about creating a world monetray system, you may as well be discussing a world
nation..... because its not going to happen till we are governed by one single body ruling the world.
No Im not actually advocating a World monetary system.
Im suggesting that every country should keep its own Currency,
-......but that everyones currency should be revalued according to that countrys worth, as I suggested in this thread four postings above.
I would determine the wealth of every Country by dividing the value of its its Exports by the number of people it has.
Thus giving a true indication of a Currencys worth - only the 'rates of exchange' would become the largest change...and at least be the true reflection of a countrys worth.
This would not require a world Goverment ruled by a single body.
Nor do I think a single World ruling Goverment could ever be achieved..not ever.
How could this ruling body be made up? From delegates from each country....and how many from each country?
One each from the poorest, going up to 30 or more from the richer. Big problem. Guesstimating a total body of 2000 delegates
all having to be present to vote?
Each countrys own Goverment - being local to that countrys area
- as now - should be more knowlegable as to what needs to be done than any hyperthetical World goverment.
A couple of years ago many western nations and others around the world met to create a standard accounting and reporting set. The idea was to create something so poeple from any nation could look at the information about a public business and understand what is happening with it easily, with out needing a masters in business...
...you may well be right. A standard accounting and reporting set, might well be easier to understand, especially when everyone knows what the true value of a countrys currency was worth, it should be even easier.
Nor would you or other accountants need to lose your jobs.
Being an Accountant and Economist this effected my livly hood and pretty much my future existance so I watched the whole matter very carefully, it was hillarous to see how some nations attempted to twist the ideal or others (USA had the loudest voice in this group) basicly said either you do it our way or we won't be a part of it.
To be honest the wealth of a country atleast when it comes to monetry value is most effected by their Exports/Imports, how much of the currency is in circulation (Pretty much Goverment Controled), and how good investments are paying off in the nation.
