27 - Claudio Borio on Financial Stability, the Triffin Dilemma, and International Monetary Policy
Macro Musings with David Beckworth
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Is There a Natural Tendency for the World to Work Itself?
If you started everything over, would there kind of naturally emerge a currency like the dollar? There are huge economies of scale in terms of information so on. How many currencies you have at the end of the day s if less of an economic issue and more of a political issue. And i think this is, this is inevitable, whether it's going to be one hugely dominant or not - but clearly it is going to be su only ware a few m berry ikein green had a book ot o maybe two right before the crisis emerged.
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