Common Welfare, Strong Currencies and the Globalization Process
published: Oct. 15, 2008, recorded: September 2008, views: 88
Report a problem or upload filesIf you have found a problem with this lecture or would like to send us extra material, articles, exercises, etc., please use our ticket system to describe your request and upload the data.
Enter your e-mail into the 'Cc' field, and we will keep you updated with your request's status.
The so called “globalization” process (i.e. the inexorable integration of markets, currencies, nation-states, technologies andthe intensification of consciousness of the world as a whole) has a behavior exactly equivalent to a system that is tending to a maximum entropy state. This globalization process obeys a collective welfare principle in where the maximum payoff is given by the equilibrium of the system and its stability by the maximization of the welfare of the collective besides the individual welfare. This let us predict the apparition of big common markets and strong common currencies. They will reach the “equilibrium” by decreasing its number until they reach a state characterized by only one common currency and only one big common community around the world.
Download slides: ephdcs08_guevara_cwsc_01.pdf (843.7 KB)
Download slides: ephdcs08_guevara_cwsc_01.pps (1.0 MB)
Link this pageWould you like to put a link to this lecture on your homepage?
Go ahead! Copy the HTML snippet !