Resisting Economic Crises with the Grondona System of Currency Convertibility – Professor Patrick Collins, Azabu University
Original Article Reference
This SciPod is a summary of the paper ‘Simulation of the Grondona System of Conditional Currency Convertibility Based on Primary Commodities, Considered as a Means to Resist Currency Crises’, from the Journal of Risk and Financial Management. https://doi.org/10.3390/jrfm12020075
Share Episode
About this episode
Currency crises are a major feature of the world economy we live in, and many governments face the challenge of defending their currency’s exchange-rate. A system of currency and money needs a standard of value to be stable, but no such system has existed since the end of the US Gold Standard in 1971. Professor Patrick Collins of Azabu University in Japan and his colleagues perform detailed simulations and argue that the Grondona system of conditional currency convertibility is the only practical method to stabilise currencies in our modern world.
This work is licensed under a Creative Commons Attribution 4.0 International License. 
What does this mean?
Share: You can copy and redistribute the material in any medium or format
Adapt: You can change, and build upon the material for any purpose, even commercially.
Credit: You must give appropriate credit, provide a link to the license, and indicate if changes were made.
Related episodes
Prof. Ariel Pakes | Should I Stay or Should I Go? The Hidden Forces Behind Your Health Plan Loyalty
If you ask someone in the United States whether to reconsider their health insurance plan choices, they may sigh, roll their eyes, and offer a story about navigating a maze of deductibles, networks, and confusing brochures. In practice, most people end up doing the simplest thing possible: they stay in the same plan they are already in. Economists have long noticed this pattern. Even when plans raise their prices or competitors offer better deals, people tend to remain where they are. This raises a fascinating question: do people stay because switching is difficult, or because they genuinely prefer the plan they already have? A new study by the economist Prof. Ariel Pakes of Harvard University, and colleagues Prof. Mark Shepard and Prof. Jack Porter, digs into this puzzle and uncovers some surprising answers. Although the study uses sophisticated mathematical tools, the insights are straightforward and important for anyone interested in how health insurance markets work.
Professor John Willoughby – Christian Fignole | Challenging Traditional Economic Assumptions about Capitalism, Socialism and Enterprise Ownership
Research from Professor John Willoughby and Christian Fignole at American University in Washington DC examines how diverse ownership structures persist in market economies, challenging the assumption that capitalist ownership automatically emerges as the most efficient form. Using economist Henry Hansmann’s institutional framework, they argue that while capitalist owners contribute little to enterprise operations, this does not guarantee that worker ownership would become dominant in post-capitalist societies. Their analysis reveals that heterogeneous ownership forms will likely continue to exist due to the varying conditions that exist in different sectors of a market economy.
Dr. Andrey Kostyuk | How Mentoring Enables Startup Success Through A Social Exchange Process
Research from Dr. Andrey Kostyuk at the Grenoble Ecole de Management supervised by Prof. Martina Battisti, a Senior Fellow of Higher Education Academy, and Director of European Council for Small Business and Entrepreneurship, reveals that successful startup mentoring operates as a complex social exchange where both mentors and entrepreneurs must benefit for ventures to thrive. The findings advance the understanding of entrepreneurial mentoring and provide a blueprint for designing more effective mentoring programs that could accelerate sustainable startup growth worldwide.
Dr. Kishor Shrestha | Rethinking the costs of highway rest areas
Operating and maintaining highway rest areas across the United States has long posed a costly challenge for state transportation departments, especially amid tightening budgets and rising demand. In a new study, Dr. Kishor Shrestha, associate professor at Washington State University finds that one outsourcing method known as method-based contracting is significantly more cost-effective than its two main alternatives. The results offer transport officials a clearer path forward for running rest areas more efficiently, and could help to preventing costly, potentially dangerous closures in the future.
Increase the impact of your research
• Good science communication helps people make informed decisions and motivates them to take appropriate and affirmative action.
• Good science communication encourages everyday people to be scientifically literate so that they can analyse the integrity and legitimacy of information.
• Good science communication encourages people into STEM-related fields of study and employment.
• Good public science communication fosters a community around research that includes both members of the public, policymakers and scientists.
• In a recent survey, 75% of people suggested they would prefer to listen to an interesting story than read it.
Step 1 Upload your science paper
Step 2 SciPod script written
Step 3 Voice audio recorded
Step 4 SciPod published