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Games nations play
Game analogy can be used to get the idea because the principal players, states reject any higher authority. Each state, take any player in a competitive game, seeks to advance its own interest in conflict with those of other states while formulating its policies. In this pursuit of national interests, a state will resort to use of force, and other economic internal policy restriction on the other states, if it cannot achieve or defend the goals in any other way. States play this game, of course, with different capabilities. The main players have historically been the most powerful states who act as policy leaders to whose paths others converge. To states payoffs are critical; these may be survival, a degree of security, influence and status as well as health, is some of the principal ones.
Inflationary Bias Another potential problem with the coordination of monetary policy is that it can worsen the inflationary bias within each country. If the costs associated wi
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