Jeff Sachs about a New Global Currency

Whether you like it or not, global economy is too much tied to the US currency dollar. Even those countries that do not have good relationship with America, the people there use dollar a lot. So, when the US economy is weak or is in a problem then it affects everyone badly because of the close relationship and involvement with the currency. So, may be it is time that all of us think seriously about the emergence of a new global currency.

I found an interesting article of Jeff Sachs in Economist’s View (Mark Thoma’s blog). The idea is interesting. The problem is that most people are afraid of something in any field. In the case of economics, it is even more problematic because if any crisis happens then it can lead to disaster. Anyway, I feel that current crisis is itself a big disaster and that is why, everyone should think of a global currency.