Exorbitant privilege

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The story of how the dollar rose to global dominance in the twentieth century - and an assessment of what the future holds for the world's most important currency.



For more than half a century, the dollar has been not just America's currency but the world's. It is used globally by importers, exporters, investors, governments and central banks alike. This singular role of the dollar is a source of strength for the United States. It is, as a critic of U.S. policies once put it, America's "exorbitant privilege." But now, with U.S. budget deficits extending as far as the eye can see, holding dollars is viewed as a losing proposition. Some say that the dollar may soon cease to be the world's standard currency, which would depress U.S. living standards and weaken the country's international influence. In Exorbitant Privilege, one of our foremost economists, Barry Eichengreen, traces the rise of the dollar to international prominence. He shows how the greenback dominated internationally in the second half of the 20th century for the same reasons that the United States dominated the global economy. But now, with the rise of China, India, Brazil and other emerging economies, America no longer towers over the global economy. It follows, Eichengreen argues, that the dollar will not be as dominant. But this does not mean that coming changes need be sudden and dire DL or that the dollar is doomed to lose its international status. Challenging the presumption that there is room for only one true global currency, Eichengreen shows that several currencies have regularly shared this role. What was true in the distant past will be true, once again, in the not-too-distant future. The dollar will lose its international currency status, Eichengreen warns, only if the United States repeats the mistakes that led to the financial crisis and only if it fails to put its fiscal and financial house in order. Incisive, challenging and iconoclastic, Exorbitant Privilege, is a fascinating analysis of the changes that lie ahead. It is a challenge, equally, to those who warn that the dollar is doomed and to those who regard its continuing dominance as inevitable.

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Exorbitant Privilege

Rating: 0 / 5 | Prijs: € 11.99

for more than half a century the dollar has been not just america s currency but the world s it is used globally by importers exporters investors governments and central banks alike this singular role of the dollar is a source of strength for the united states it is as a critic of u s poli Direct beschikbaar .. MEER INFO

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A powerful new understanding of global currency trends including the rise of the chinese yuanat first glance the history of the modern global economy seems to support the long held view that the currency of the world s leading power invariably dominates international trade and finance but in how Uiterlijk 6 december in huis .. MEER INFO

Every Man a King

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huey long 1893 1935 was one of the most extraordinary american politicians simultaneously cursed as a dictator and applauded as a benefactor of the masses a product of the poor north louisiana hil huey long 1893 1935 was one of the most extraordinary american politicians simultaneously cur Uiterlijk 6 december in huis .. MEER INFO

Taal: en

Bindwijze: Paperback

Oorspronkelijke releasedatum: 27 september 2012

Aantal pagina's: 226

Illustraties: Nee

Hoofdauteur: Barry Eichengreen

Hoofduitgeverij: Oxford University Press

Extra groot lettertype: Nee

Product breedte: 142 mm

Product hoogte: 18 mm

Product lengte: 215 mm

Studieboek: Nee

Verpakking breedte: 134 mm

Verpakking hoogte: 20 mm

Verpakking lengte: 219 mm

Verpakkingsgewicht: 294 g

EAN: 9780199642472

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