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Product Identifiers

PublisherOxford University Press, Incorporated

ISBN-100199931097

ISBN-139780199931095

eBay Product ID (ePID)117311239

Product Key Features

Book TitleExorbitant Privilege : The Rise and Fall of the Dollar and the Future of the International Monetary System

Number of Pages240 Pages

LanguageEnglish

TopicEconomic History, International / Economics, Public Policy / Economic Policy, Money & Monetary Policy

Publication Year2012

IllustratorYes

GenrePolitical Science, Business & Economics

AuthorBarry Eichengreen

FormatTrade Paperback

Dimensions

Item Height0.7 in

Item Weight11.3 Oz

Item Length9.1 in

Item Width6 in

Additional Product Features

Intended AudienceTrade

LCCN2015-494698

Dewey Edition23

Reviews"A fascinating and readable account of the dollar's rise and potential fall"--The Economist "A rare combination of macroeconomic mastery, historical erudition, good political instincts and the sort of stubborn common sense that is constantly placing familiar problems in a new light."--Financial Times "This short, accessible book about the U.S. dollar by Barry Eichengreen may be one of the most important published this year.--Barron's "[A] brisk primer on the dollar's role in the international monetary system."--Bloomberg News "Exorbitant Privilegeis a book for anyone who has been perplexed why, despite the frequent predictions of the dollar's demise over the last fifty years, it has managed to maintain its position as the world's pre-eminent reserve currency. The book includes both a lively historical account of the dollar's role in the international monetary system and an incisive and balanced discussion of future challenges."--Liaquat Ahamed, author ofLords of Finance "Short and eminently readable.... In just 177 pages of text, [Eichengreen] provides a wealth of material for both the lay reader and the scholar... You can't do better than Eichengreen for a solid read on the dollar's wild ride."--The American Prospect "Compact and readable...Eichengreen adds much needed nuance and subtlety to the U.S. dollar debate....is [also] a pithy and amusing history of the international monetary system....for those fascinated by historical figures and events, behind-the-scenes machinations, and the logistical elements that make a complex currency and trade system work, the telling is very well done."--Business Insider "Barry Eichengreen's book couldn't be more timely... Elegant and pithy."--Finance & Development, IMF.org "[A] detailed and fast-moving analysis of the rise of the greenback as an international currency." --EnlightenmentEconomics.com "When everyone from Brazil's leader to Sarah Palin questions the dollar's status as a reserve currency, it is time for an expert to sort out the truth from the hyperbole. Barry Eichengreen performs this service with unwavering clarity."--Sebastian Mallaby, Council on Foreign Relations "Professor Eichengreen has written a truly superb book on the role and global standing of the dollar--past, present and future. Those exposed to the evolution of the globally economy, and that's virtually all of us, will find his book extremely thoughtful and a great read."--Mohamed El-Erian, CEO and co-CIO of PIMCO "Eichengreen is the master of international money in history and its troubles.Exorbitant Privilegeis a fine account of whence it came and a judicious survey of where it might go."--James K. Galbraith, author ofThe Predator State: How Conservatives Abandoned the Free Market and Why Liberals ShouldToo "Barry Eichengreen again demonstrates his ability to integrate economic history and theory with political analysis in order to illuminate the critical issues of international finance. The timely and accessible book is must reading for all concerned with the prospective balance of international power--financial, economic and political--in a multi-polar world."--William H. Janeway, Warburg Pincus "[S]urprisingly compact and readable book, Eichengreen adds much needed nuance and subtlety to the U.S. dollar debate . . . a pithy and amusing history of the international monetary system . . . those fascinated by historical figures and events, behind-the-scenes machinations, and the logistical elements that make a complex currency and trade system work, the telling is very well done." --BusinessInsider.com "[A] brief and readable account of how the international monetary system got where it is today and of past efforts, both successful and (mainly) unsuccessful, to reform it." --Foreign Affairs

Dewey Decimal332.4/973

Table Of ContentChapter 1: Introduction Chapter 2, "Emergence" Chapter 3, "Dominance" Chapter 4, "The Rise of a Rival" Chapter 5, "Crisis" Chapter 6, "Today" Chapter 7, "Tomorrow"

SynopsisRecent 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., 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., In Exorbitant Privilege, one of the world's foremost economists, Barry Eichengreen, traces the historical rise of the dollar to international prominence. He shows how the greenback dominated internationally in the second half of the twentieth century for the same reasons that the United States dominated the global economy. But now, with the rise of China, 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 the coming changes will necessarily 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--either the dollar or something else--Eichengreen shows that several currencies have shared this international role over long periods. What was true in the distant past will be true, once again, in the not-too-distant future. With a new afterword that covers the Euro crisis and the U.S. debt-ceiling controversy, Exorbitant Privilege challenges both those who warn that the dollar is doomed and those who regard its continuing dominance as inevitable.

LC Classification NumberHG540.E33 2012