The history of the euro provides a shining example of how economic ideas shape public opinion and how they then, eventually, reshape political and economic institutions. Robert Mundell, a Canadian who won the Nobel Prize in economics in 1999, was the first person to write about the benefits of monetary unions. The project that led to the birth of the euro was inspired by Mundell's ideas and by the acknowledgment of the importance of efficient rules for regulating the interaction between government authorities, like central banks, and the rest of society.
The history of the euro provides a shining example of how economic ideas shape public opinion and how they then, eventually, reshape political and economic institutions. Robert Mundell, a Canadian who won the Nobel Prize in economics in 1999, was the first person to write about the benefits of monetary unions. The project that led to the birth of the euro was inspired by Mundell's ideas and by the acknowledgment of the importance of efficient rules for regulating the interaction between government authorities, like central banks, and the rest of society.