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On the one hand, countries with different economic strengths having the same currency managed centrally isn't ideal. But on the other hand, anything that reduc

• beAbU 1y ago
  > On the one hand, countries with different economic strengths having the same currency managed centrally isn't ideal. Isn't this kind of what the US is doing though?
  • 3836293648 1y ago
    Yes, and it isn't exactly helping all of America, even if it is helping America as a whole
  • lmm 1y ago
    The US has a much more integrated economy - businesses operate nationwide, employees routinely move across the country, and most economic policy is set centrally. And even then there are still downsides where e.g. interest rates set to suit the national economy exacerbate the problems of the rust belt.
    • knorker 1y ago
      > businesses operate nationwide, employees routinely move across the country Could you elaborate on what you mean? I've not run a business, but from the people I know who do complain similarly about cross-EU and cross-US-state business. Like the company based in Texas who got their first employee in New York. Suddenly they needed some sort of presence in New York State, get a separate insurance, and accountants for New York State. (federal, state, and city income tax). They have to really want that employee. From what I've heard, selling across state lines is fine in either case. Getting employees / expanding into new state is in both cases a big deal. Withdrawing (presence, not sales) from a US state is spoken about similarly to if it's a new country.
      • lmm 1y ago
        Opening an office in a new state may be just as difficult as opening an office in a new country, but my sense is that both a) selling to the entire US and b) hiring employees from the entire US (with the requirement to relocate to the state where you operate) are substantially easier than doing the same things across the entire EU.
        • knorker 1y ago
          To be clear, I don't just mean opening a physical office. I also mean the cost of having your first remote worker who lives and works from another state. For employee relocation, that's definitely true. Even moving from Hawaii to Alaska is less of a life change than Spain to Poland. Or hell, probably even Spain to Portugal. I'm surprised to hear you say selling would be that hard, though. It'd be interesting to see a comparison. And there's also both B2C and B2B.
          • lmm 1y ago
            > I'm surprised to hear you say selling would be that hard, though. It'd be interesting to see a comparison. And there's also both B2C and B2B. I'm getting out of my depth, so this is more vibes than concrete knowledge, but: Selling goods isn't that hard in the EU, but you do have to be set up to collect VAT at a different rate depending on where the customer is from, which is a barrier, whereas I think in the US you can just tell the customer that they've got an obligation to pay sales tax in their state? (I remember Amazon battling about this at one point, but I think the states backed down). Selling services cross-border is a nightmare, there's still not really any standardisation of what licenses etc. you need. Plus of course even if there were no legal issues there's often a language barrier.
• SwtCyber 1y ago
  The euro may be imperfect, but it's one of the few serious contenders out there