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> currency is a winner-take-all market You are aware of other currencies,let's say the Euro, right?
by anm89 6y ago
> currency is a winner-take-all market
You are aware of other currencies,let's say the Euro, right?
- nostrademons 6y agoLike other winner-take-all markets, it splits into multiple winner-take-all markets when their are natural (or let's say "national") boundaries. Note that we don't still have deutschemarks, francs, guilders, schillings, lira, peseta, and escudo, though. The network effects of having a single currency are big enough that 19 nations were willing to give up their national currency.