Description
Recent events in the US--high unemployment, record federal deficits, and unprecedented financial distress--have raised serious doubts about the future of the dollar. So profound has been the impact that some say the dollar may soon cease to be the world's standard currency. Is the situation
that bad? In Exorbitant Privilege, one of our foremost experts on the international financial system argues that while the dollar is bound to lose its singular status to newcomers like the Euro and the Chinese Renminbi, the coming changes will be neither sudden nor dire. Barry Eichengreen puts
today's crisis in historical context, revealing that only after World War II, with Europe and Japan in ruins, did the dollar become the world's monetary lingua franca--the reserve currency of the world's banks and the kind of cash accepted virtually everywhere. Now, with the rise of China, India,
Brazil and other emerging economies, America no longer towers over the global economy like before. And the U.S. itself faces very serious economic and financial challenges as it contemplates its medium-term future. But despite this, Eichengreen concludes, predictions of the dollar's demise are
greatly exaggerated. The paperback edition features a new afterword that takes the story up through 2012.
Author: Barry Eichengreen
Publisher: Oxford University Press, USA
Published: 09/01/2012
Pages: 240
Binding Type: Paperback
Weight: 0.70lbs
Size: 9.10h x 6.00w x 0.70d
ISBN13: 9780199931095
ISBN10: 0199931097
BISAC Categories:
- Business & Economics | Money & Monetary Policy
- Business & Economics | Economic History
- Business & Economics | International | Economics & Trade
that bad? In Exorbitant Privilege, one of our foremost experts on the international financial system argues that while the dollar is bound to lose its singular status to newcomers like the Euro and the Chinese Renminbi, the coming changes will be neither sudden nor dire. Barry Eichengreen puts
today's crisis in historical context, revealing that only after World War II, with Europe and Japan in ruins, did the dollar become the world's monetary lingua franca--the reserve currency of the world's banks and the kind of cash accepted virtually everywhere. Now, with the rise of China, India,
Brazil and other emerging economies, America no longer towers over the global economy like before. And the U.S. itself faces very serious economic and financial challenges as it contemplates its medium-term future. But despite this, Eichengreen concludes, predictions of the dollar's demise are
greatly exaggerated. The paperback edition features a new afterword that takes the story up through 2012.
Author: Barry Eichengreen
Publisher: Oxford University Press, USA
Published: 09/01/2012
Pages: 240
Binding Type: Paperback
Weight: 0.70lbs
Size: 9.10h x 6.00w x 0.70d
ISBN13: 9780199931095
ISBN10: 0199931097
BISAC Categories:
- Business & Economics | Money & Monetary Policy
- Business & Economics | Economic History
- Business & Economics | International | Economics & Trade
About the Author
Barry Eichengreen is Professor of Political Science and Economics at the University of California, Berkeley. His previous books include The European Economy Since 1945, Global Imbalances and the Lessons of Bretton Woods, Capital Flows and Crises, and Financial Crises and What to Do About Them. He has written for the Financial Times, Wall Street Journal, Foreign Affairs, and other publications.
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