{"product_id":"exorbitant-privilege-the-rise-and-fall-of-the-dollar-9780199596713","title":"Exorbitant Privilege: The Rise and Fall of the Dollar","description":"\u003cbr\u003eFor 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. \u003cbr\u003eBut 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. \u003cp\u003e\u003c\/p\u003eIn \u003cem\u003eExorbitant Privilege\u003c\/em\u003e, 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 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. \u003cp\u003e\u003c\/p\u003eIncisive, challenging and iconoclastic, \u003cem\u003eExorbitant Privilege\u003c\/em\u003e, 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.\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Barry Eichengreen\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e OUP Oxford\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 06\/01\/2011\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 192\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.08lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.21h x 6.14w x 0.56d\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9780199596713\u003cbr\u003e\u003cp\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003eBarry Eichengreen is Professor of Political Science and Economics at the University of California, Berkeley. His previous books include \u003cem\u003eThe European Economy Since 1945\u003c\/em\u003e, \u003cem\u003eGlobal Imbalances and the Lessons of Bretton Woods\u003c\/em\u003e, \u003cem\u003eCapital Flows and Crises\u003c\/em\u003e, and \u003cem\u003eFinancial Crises and What to Do About Them\u003c\/em\u003e. He has written for the \u003cem\u003eFinancial Times\u003c\/em\u003e, \u003cem\u003eWall Street Journal\u003c\/em\u003e, \u003cem\u003eForeign Affairs\u003c\/em\u003e, and other publications.\u003cbr\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003e\u003ci\u003eThis title is not returnable\u003c\/i\u003e\u003cbr\u003e\u003c\/p\u003e","brand":"OUP Oxford","offers":[{"title":"Hardcover","offer_id":39937636958323,"sku":"9.7802E+12","price":55.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0555\/9255\/0515\/products\/img_807b4cfe-8ce6-4705-9c10-b1e2f189d34b.jpg?v=1647994658","url":"https:\/\/bookstorenmore.com\/products\/exorbitant-privilege-the-rise-and-fall-of-the-dollar-9780199596713","provider":"Bookstore N More","version":"1.0","type":"link"}