Exorbitant Privilege: The Rise and Fall of the Dollar

Contributor(s): Professor Barry Eichengreen | The dollar, the world's international reserve currency for over eighty years, has been a pillar of American economic hegemony. In the words of one critic, the dollar possessed an "exorbitant privilege" in international finance that reinforced U.S. economic power. In Exorbitant Privilege, eminent economist Barry Eichengreen explains how the dollar rose to the top of the monetary order before turning to the current situation. Barry Eichengreen is Professor of Political Science and Economics at the University of California, Berkeley. He has written for the Financial Times, Wall Street Journal, Foreign Affairs, and other publications. This event celebrates the publication of his latest book Exorbitant Privilege: The Rise and Fall of the Dollar.