We should have revalued the dollar after going off the gold standard to avoid this, but turning $10 into $1 would not be popular for market cap (goodbye, trillion-dollar companies). Oddly enough, the introduction of the Euro didn’t seem to cause financial collapse when several countries had to suddenly shift to a new scale.
We should have revalued the dollar after going off the gold standard to avoid this, but turning $10 into $1 would not be popular for market cap (goodbye, trillion-dollar companies). Oddly enough, the introduction of the Euro didn’t seem to cause financial collapse when several countries had to suddenly shift to a new scale.