Ep. 306: Ken Rogoff on Dollar Decline, Debt Worries and Fed Independence
Macro Hive Conversations With Bilal Hafeez
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Currency Dynamics and Economic Power
This chapter examines the historical and contemporary factors influencing the dominance of the U.S. dollar in the global economy, following key economic events like the abandonment of the gold standard in 1971. It discusses the interplay of military power and economic strength in establishing a currency's status, alongside challenges from alternative currencies like the euro and renminbi. Additionally, the chapter reflects on the uneven economic landscape in the UK and the need for structural reforms to enhance productivity and regional equity.
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