I suspect that the vicious war in Iraq would make nations more likely to want to use an alternative to the dollar.
I agree that the privilege of issuing a currency that serves as a unit of account offers the profits of seniorage, but I cannot see a war in the face of world public opinion shoring up that privilege. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
