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The United Currency Wars
Framework developed by Noam Ebner and Yifat Winkler; modifed by Nellie Munin
This Prisoner’s Dilemma game game reflects a conflict of interests regarding deviation from financial stability rules that were agreed by the parties (the “Alliance”) as a major condition for the establishment of a united currency among them. These rules were dictated by the rich and strong partners to the weaker partners when the Alliance was established, to ensure that the latter would not financially collapse, dragging all the other countries with them. Respecting the stability rules requires strict financial discipline, something all parties find hard to maintain considering strong external and internal pressures. However, deviation from the stability rules would undermine the Alliance, weakening all its parties.
The United Currency Wars (PDF)
Teacher’s Manual (PDF) available on Mitchell Hamline Open Access