Can you have a successful currency union without political union?

Earlier today I gave a Lecture at All Souls College, Oxford on the subject of Single currencies and political unions. I argued that a successful currency needs to be backed by a political union, which includes transfers between different regions or countries within the currency area.

I enclose a copy my presentation slides, which may be of interest to readers.

Slide 1: Can you have a successful currency union without political union

 

I then went on to debate leave or stay,mat a following seminar,  and drew on the material in these slides

Slide 2: Better Off Out

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12 Comments

  1. Posted November 13, 2015 at 11:13 pm | Permalink

    Paris dear Paris so so sad

  2. Posted November 14, 2015 at 2:31 am | Permalink

    John Redwood: “Can you have a successful currency union without political union?”

    Rhetorical question: “Can you have a civil society with an indescriminate open borders policy?

    That looks like a resounding, no.

    http://www.bbc.co.uk/news/world-europe-34814203

    Tory, UK PM David Cameron said “he was shocked …”

    Utter muppet.

  3. Posted November 14, 2015 at 6:55 am | Permalink

    Excellent keep up the good work. Academia is a hot bed full of misguided, group think, EUphiles and greencrap loons, largely funded from the public teat. Usually arts graduates often with little grasp of logic, science or engineering I find.

    They nearly all thought that open borders, rule by unelected bureaucrats, state subsidised “renewables”, “free” university education, the EURO and ERM were all just great ideas.

    • Posted November 14, 2015 at 9:53 am | Permalink

      Lifelogic/Ludditelogic,
      Didn’t you get your university education for free?
      Whatever your companies produce, don’t they rely on some infrastructure (roads, railways)?
      As for your workers and executives, were they not educated by the UK education system, or do you only rely on imported manpower?
      Without the State, would you be able to enjoy your present status of “critic-in-chief” and “lesson-dispenser”?

      As for your call to science, it would be good if from time to time, you could condescend to give proper references for your comments, i.e., not lazily relying on DT. Some much more interesting commentators on this site are very good at providing their references and it is a pleasure to read their comments. You just sound like a grumpy old man, just repeating your (far?) right wing group think.

      • Posted November 14, 2015 at 7:18 pm | Permalink

        Oh I am not far right, just sensible middle ground, looking for the best systems for all on balance. I started off very poor.

        Indeed I did get my education for free – Grammar school then Cambridge maths/physics. But I am not convinced that people do well as a result of education (though the contacts can be useful), people tend to be bright or not. Education can help get them into protected sectors Medicine, Law …. but it rarely makes then any brighter. Often the reverse in fact they get indoctrinated into group think lunacy often – on (for example) the ERM, the EURO, magic money tree economics or the global warming catastrophe religion.

        • Posted November 14, 2015 at 7:21 pm | Permalink

          Right wing perhaps but only relative to BBC think lefty lunacy.

    • Posted November 14, 2015 at 12:59 pm | Permalink

      Most, I find, even think that the free at the point of rationing and queues, “priority in three letter” N H S works just fine too.

  4. Posted November 14, 2015 at 10:40 am | Permalink

    Unable to open attachments

  5. Posted November 14, 2015 at 10:46 am | Permalink

    Thank you. Nice summary in both sets of slides, it’s a shame that the same level of analysis and logic is so rarely seen in Brexit media coverage.

  6. Posted November 14, 2015 at 11:20 am | Permalink

    Thank you for alerting us to your presentation yesterday and for posting the slides – a much more reliable source than my scruffy notes. I wish I had been able to attend the subsequent session which, I assume, related to your Better Off Out slides.

  7. Posted November 14, 2015 at 11:44 am | Permalink

    I enjoyed your well presented and articulate lecture at All Souls yesterday . It created a very thoughtful occasion ( and discussion – in my case that occupied the whole evening afterwards ! ). I did not witness Slide 2 – presumably this was presented in the lecture following . It was also good to meet a fellow blogger – “Oldtimer”. Well done and please continue to use your influence to push for a co-ordinated “Out/Leave campaign .

    Reply

    Thanks. Glad it helped. Telegraph took an article based on it but still no sign of it being published.

  8. Posted November 14, 2015 at 5:54 pm | Permalink

    Thank you very much for posting this material. I would have been most interested to come to All Souls to hear you speak, but I was unable to do so. I am glad to have the opportunity to download your slides. The summary points regarding “Better Off Out” are very useful to have in mind for use in discussions with people whenever the question of our membership of the European Union arises.

  • About John Redwood


    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

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