Exorbitant Privilege

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In Exorbitant Privilege, economic historian, Barry Eichengreen, traces the rise of the dollar to international prominence over the course of the 20th century. He shows that the greenback dominated internationally in the second half of the century for the same reasons and in the same way that the United States dominated the global economy. But now, America no longer towers over the global economy. It follows, Eichengreen argues, that the dollar will not be a dominant. Challenging the presumption that there is room for only one true global currency, either the dollar or something else, Eichengreen shows that several currencies have shared this international role over long periods.--Provided by publisher.