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It is obvious that in the conditions of absence of custom duties and other obstacles
For free movement of the goods and people through borders, the tendency of the internal
The prices to vary "in a unison" with each other is a consequence, instead of the justification
For existence of separate national currency systems. Existence
National currency systems conducts also to occurrence of such institutes, as
The collective labour contracts concluded in scales of all country that else
More aggravates consequences of distinctions between price structures of the different
The countries. The matter is that the control over the offer of money gives all
To the national governments the big freedom in fulfilment of actions, absolutely
Undesirable from the point of view of the international order and stability; Such
System can approve only it all colours, however it it is absolute
It is counter-indicative to quiet development of the international relations.
Really, I do not see other reasons, except upholding of interests of monopolies,
Which education becomes possible thanks to national
To protectionism, why the territories which have appeared under the power of the various
The governments, should form isolated national economic zones,
If there are no benefits brought by existence in each such
To zone of the uniform currency which is distinct from currencies of other zones. In the conditions of a world order,
Which in a huge measure depends on the international exchange, would be rather
It is ridiculous to consider quite often casual agglomerations of the various regions which have appeared
Under the power of one of the governments, the isolated economic zones.
Economists have more recently realised this true, and some of them were set
Question - "what should be currency zones?" To find the answer to this question
It has appeared difficultly enough
Economic Review, "Optimum Currency Areas" and Robert A. Mundell September 1963, American Economics Review, 51, "A Theory of Optimum
Currency Areas ">.
Though historically separate national currencies were simply the tool
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