Description
An Insider’s View of Seven Turbulent Decades of Global Finance, and the Road Ahead
A National BestsellerRecommended by Financial Times as What to Read in 2025
The central argument of Our Dollar, Your Problemthat the greenbacks pre-eminence was never guaranteed and might plausibly be overturnedcould hardly be more timely.The Economist
A leading economist explores the global rise of the U.S. dollar and shows why its future stability is far from assured
Our Dollar, Your Problem argues that Americas currency might not have reached todays lofty pinnacle without a certain amount of good luck. Drawing in part on his own experiences, including with policymakers and world leaders, Kenneth Rogoff animates the remarkable postwar run of the dollarhow it beat out the Japanese yen, the Soviet ruble, and the euroand 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. Rogoff shows how Americas outsized power and exorbitant privilege can spur financial instabilitynot just abroad but also at home.
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