Dollar, euro, ruble, yuan, yen, pound, franc. The world of money is rich in names. When traveling, you exchange rubles for liras, then for dirhams, then for bates. Why can't there be one currency for everyone? It would be convenient. But every piece of paper is sovereignty, history, economic policy, and a bit of magic. Let's figure out where different money came from, why it's needed, and why the dollar is still the main one but not eternal. Why Can't There Be One Currency for Everyone The idea of a single world currency is as old as the world itself. Keynes proposed it in the 1940s. But there are three big problems. The first is sovereignty. Each country wants to manage its own economy. To issue as much money as needed, raise rates, devalue in a crisis. If there is a single currency, then all these levers go to an supranational body. Countries are not ready. The second is different levels of economies. Germany and Greece have the same currency - the euro. But Germany is richer and more efficient. It turns out that Germans are subsidizing Greeks. In a single world currency, poor countries would drag rich ones down, and rich ones wouldn't want to share. The third is crises. If there is a common currency, then a crisis in one country will immediately spread to all. You can't devalue, you can't print money alone. You can only tighten your belt and wait for help from neighbors. The Eurozone experienced this in 2010-2015. Painfully. Therefore, 180 countries - 180 currencies. Plus local ones: the dollar in Zimbabwe, the euro in Montenegro, the Russian ruble in Abkhazia. It's a mess, but it's alive. How Currencies Appear Each currency has its own history of birth. Often - together with the state. Proclaimed independence - you need your own money. Print. But sometimes it's different. The euro appeared not with a new state, but with a treaty between the old ones. 1999 - cashless euro, 2002 - coins and banknotes. Immediately 12 countries gave up their marks, fr ... Read more