Overview

A leading economist explores the global rise of the US dollar and shows why its future stability is far from assured. Our Dollar, Your Problem argues that America's currency might not have reached today's 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 dollar--how it beat out the Japanese yen, the Soviet ruble, and the euro--and 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 America's outsized power and exorbitant privilege can spur financial instability--not just abroad but also at home.

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Reviews

""[Rogoff's] autobiographical element nicely enhances the sometimes technical (but always accessible) monetary story."" -- ""Wall Street Journal"" ""[Rogoff] worries that we are jeopardizing the dollar's pivotal role in the global economy. That should matter to all Americans."" -- ""Washington Post"" ""A tour de force--Ken Rogoff pairs delightful personal anecdotes with a sweeping portrait of the international monetary system. Rogoff's prescient view on the possibly 'shrinking' dollar is certainly not to be taken lightly."" -- ""Hélène Rey, Lord Bagri Professor of Economics at London Business School"" ""A well-written, often surprisingly lively book."" -- ""Financial Times (London)"" ""It's an important book, accessible and entertaining. If this time is different, it will help you understand why."" -- ""Forbes"" ""Rogoff brilliantly describes the dominance of the dollar across time and space, its contenders, and the limits to its immortality, weaving in his personal experiences which makes for a delightful read."" -- ""Gita Gopinath, first deputy managing director, International Monetary Fund"" ""The central argument of Our Dollar, Your Problem--that the greenback's pre-eminence was never guaranteed and might plausibly be overturned--could hardly be more timely."" -- ""The Economist (London)"" ""[Rogoff's new book is] very well timed...It's a history of dollar dominance--how we built it, the challenges to it, and a warning, written before the Trump administration, that the rest of the world was already beginning to look for exits from it."" -- ""Ezra Klein""

Author Information

Kenneth S. Rogoff is Maurits C. Boas Professor of Economics at Harvard University and former International Monetary Fund chief economist. One of the world's foremost observers on the global economy, he is coauthor of the New York Times bestselling This Time Is Different: Eight Centuries of Financial Folly. Evan Sibley is an in-demand narrator with a background in film and stage acting.

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