'Trade is not a competition ... An independent Scotland must recognise this, or it will simply stay on the path Westminster has set' // MammothWhale
First, producers take greater priority on the income they receive from their services or goods, rather than who purchases them. If a producer sells their goods domestically, they will receive the domestic currency to cover costs for their next sales. If a producer sells their goods into the foreign sector, the buyer will need to exchange their domestic currency for the new Scottish currency .
Another counterargument from Unionist opponents would be that an independent Scotland can enjoy all the real resources it wants, but we would still be faced with transaction costs with trade. This argument might hold up more if it were not for the obvious fact that transaction costs are a normal part of global trade.
If we look at Eastern European countries with their own currencies, such as Poland, Hungary, and the Czech Republic, we find that they’ve had the fastest growth compared to their Euro colleagues since 2002. The Euro may have removed transaction costs for many European countries, but Euro members also suffer higher levels of unemployment, political instability, and interest rates. Unionist scaremongering of transaction costs simply don’t stand up to macroeconomic reality.
Sending resources to countries in need to rebuild communities, develop modern health care and expand education is not only a representation of an independent Scotland’s values, but more importantly it is the morally right thing to do.
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