North American Currency Union

26 10 2009

The Globe and Mail has published a lengthy essay by Konrad Yakabuski on North American currency union. This piece, like of all of Mr Yakabuski‘s articles, is distinguished by clear writing, careful analysis, and very thorough research.

Yakabuski outlines a very compelling economic case for currency union. However, I suspect that any concrete proposal for a currency union would be derailed by nationalist opposition in Canada, Mexico, and the United States. Nationalist sentiment would trump economic logic. In fact, I think that we Canadian forget just how much anti-NAFTA sentiment there is in the USA. Consider Lou Dobbs: