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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (687493)	7/13/2019 3:16:27 PM
From: grusum	Respond to of 793883

i can answer this, but i want to see Black Swan's answer first. my reply to you may be included in it.

To: skinowski who wrote (687493)	7/19/2019 8:53:43 PM
From: grusum	1 Recommendation Recommended By skinowski Read Replies (1) \| Respond to of 793883

well, it's been a week and no answer so i'll answer your question instead. "To address this issue not in general, but only in one limited aspect, a nation like Iceland may be indirectly benefitting from other nations having strong militaries." but then why aren't their militaries making their currencies stronger than iceland? (only one currency of all of them had more buying power). when you say 'other nations' i assume you're talking about the eu. "Why shouldn’t some aggressive country attack and occupy Iceland? Because other powers wouldn’t stand for it. And... it could be argued that for as long as this is obvious - practically guaranteed - Iceland is safe." i don't know why some people think that military power gives a country's currency its value. i'm certainly not going to attempt to explain why they think the way they do. their explanations make no sense to me. they never try to make a rigorous logical connection. they simply make dubious claims. i know of no economist (not even a keynesian) who claims that military power gives a currency its value. the connection is too vague and difficult to back up. maybe there's a respected economist somewhere that claims military power gives a currency its value, but i've never seen one. to me, it's one of the 'urban legends' of economics.