Eric Bejarano, Chapter 11, Question #5

I most enjoyed Wheelan's explanation of the power of a single uniform currency across a country or in the case of Europe many countries. In the chapter Wheelan uses examples to show that if you have a uniform currency everyone benefits in some way. It helps consumers by allowing them to easily compare prices in different areas of their countries or if they travel abroad to a different country in Europe. He goes on to explain that it also helps to reduce transaction costs by allowing people to easily trade with foreign countries without converting their money over. As Wheelan explains: everyone benefits from international trade. Having uniform currency just makes it that much better.