OUR DOLLAR YOUR PROBLEM: AN INSIDER’S VIEW OF SEVEN TURBULENT DECADES

OUR DOLLAR YOUR PROBLEM: AN INSIDER’S VIEW OF SEVEN TURBULENT DECADES OF GLOBAL FINANCE AND THE ROAD AHEAD - KENNETH ROGOFF

Ken Gogoff, a leading economist, explores the global rise of the U.S. dollar and shows why its future stability is far from assured.

Rogoff argues that America’s currency might not have reached today’s lofty pinnacle without a certain amount of good luck. Drawing in part on his own experiences, including with policymakers and world leaders, Rogoff animates the remarkable postwar run of the dollar, how it beat out other currencies, and the challenges it faces today from crypto and the Chinese yuan, the end of reliably low inflation and interest rates, political instability, and the fracturing of the dollar bloc.

Americans cannot take for granted that the Pax Dollar era will last indefinitely, not only because many countries are deeply frustrated with the system, but also because overconfidence and arrogance can lead to unforced errors.