Arnold Kling  

Toward a World Central Bank?

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A Committee of economists proposes,


the creation of an International Monetary Policy Committee composed of representatives of major central banks that will report regularly to world leaders on the aggregate consequences of individual central bank policies.

In other words, more centralization is the answer. What could go wrong?

I have not yet read John Fonte's Sovereignty or Submission, but my guess is that it is relevant.



COMMENTS (5 to date)
8 writes:

Failing upward! What can go wrong is what goes wrong with every central bank, only bigger and more spectacular. And I suppose with a global central bank, the solution to the eventual crisis (using Europe as the example) will be global government, right? But that's just kook talk.

ThomasL writes:

The X-Files tag, "Resist or serve," is coming to my mind a lot lately.

Justin Bowen writes:
And I suppose with a global central bank, the solution to the eventual crisis (using Europe as the example) will be global government, right? But that's just kook talk.

The consequences of the collapse of a global government aside, how exactly is global government any worse than, say, national government? The average moron will have as much clout under a global government as he does under a national government, which is to say that he'll still have none. It's unlikely that the average American's day-to-day life will be completely unaffected by the creation of a level of actual government higher than the US.

And since it has already been brought up, who actually believes that Americans are actually the ones creating policy? That policy national policy isn't dictated to elected politicians (after the Tea Party Debate, who can actually claim with a straight face that American politics are anything but a freak show?) by multinational corporations, foreign governments, and international treaties and international organizations? And, that American policies aren't being crafted and altered to bring the US more into line with our neighbors (and eventually the rest of the world) to make the inevitable unification of our government with others as seamless as possible?

steve writes:

Now all we have to do is find the smartest man on the planet to head this comittee, surely such a man, one of great sophistication and impeccable credentials will know what is best for us all. After all, only the best of us have the penache to let the presses roll one final time on a grand global scale explain one more time how this will help and still be believed one last time.

Alternately, we could just park a carrier group off the coast of any country that doesn't want to play along.

joshua writes:

I am watching the world response to our unfolding crisis with great interest. The European Union is teetering on a mountaintop of partial centralization, and it could either collapse into less centralization, or reemerge as a much stronger and more centralized entity...

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