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, by Barry J. Eichengreen
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Product details
File Size: 16542 KB
Print Length: 271 pages
Page Numbers Source ISBN: 0691177007
Publisher: Princeton University Press; Reprint edition (October 23, 2017)
Publication Date: October 23, 2017
Sold by: Amazon Digital Services LLC
Language: English
ASIN: B0719LGS9W
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Amazon Best Sellers Rank:
#274,738 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
Get past the politics and read what the real world is about. Being a laymen who love the subject, this book was easy to understand. Although there is some technical stuff in there that over my head. Great read. Knowledge freedom.
This short book looks at the history of currencies for guidance on how long the U.S. dollar will remain the dominant global currency. Much of the history tells the story of how the world moved from the British pound as the international currency to the U.S. dollar. Using new data from the 1920's and 1930's, the authors show that this move happened faster and earlier than many people think. They disagree with the traditional view that dominant currencies will persist long after a country's economic dominance has declined. And they show that multiple reserve currencies can coexist. They expect the dollar will have rivals sooner than later.Although an academic book with some statistical analysis, the book is easy to read with short chapters that get to the point. Along the way, the authors explain why and how businesses and governments conduct currency transactions, which helps us understand what drives preferences in currencies. All of this work is relevant to thinking about changes that might take place if China overtakes the U.S. as the largest economy.
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