Saturday, October 18, 2008

Financial crisis may lead to financial integration

Bretton Woods was an momentous step in human integration that 99% of the world's population knows nothing about. That was 60 years ago. It's time in our increasingly integrated world to take another step. I don't know if there is a specific "engine of history". It's been argued that religion, culture, and our human nature are candidates, but I know that economics is important in driving history. What European leaders are contemplating (read the Economist article here) should be the guide for the world. They meet with Bush today, and it is likely that the current administration will balk. But the day will come, hopefully sooner than later.