Like commenter TJ Lynn points out in the comments, Mr. Yglesias in this post seems to act like Optimum Currency Area doesn't exist. I'm partial to the idea that currencies should try to match regions that cycle economically together, and that there should be some healthy directed experimentation to flesh out what we don't know yet with regards to currency optimization.
http://thinkprogress.org/yglesias/2011/10/29/356069/the-electronic-transactions-era/#comment_link
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