The Bottom Line
The Single Global Currency: Common Cents for the World by Morrison Bonpasse.544 pages. A clearly-written and thorough overview of all issues related to foreign exchange, history of money, and the need for a single global currency.
Pros
- Provides a detailed argument for a global currency.
- Describes clearly how the foreign exchange market works.
- Recounts the history of money and foreign exchange.
- Well documented with many helpful reference resources.
- Easy to read.
Cons
- At 500 pages, is probably intimidating to many readers.
- Biased towards a single global currency.
Description
- Part I. The Past to the Present.
- Part II. The Present to the Future.
- Part III. The Future
Guide Review - Book Review
This is a thorough explanation of the history of the multicurrency system and the costs of maintaining a multiple exchange rate system. First on the list are currency speculators, who impact the value of money for their own personal profit. Second are the costs of currency transactions, for businesses, governments and individuals, especially travelers. It is well-researched and provides useful resources for additional reading. This book also covers the current conversation by economists around the single global currency debate.
It is, however, biased. Readers who are looking for a thorough discussion of why a single global currency should not be instituted will need to look elsewhere.
