Aufhebunga Bunga
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/139/ Dollar Empire ft. Yakov Feygin & Dominik Leusder
🕑 Added 2020-08-04 06:45:01 +0000 UTCOn dollar hegemony.
Dutch disease has long been seen as the curse of resource-rich economies in which a currency appreciates and jobs are lost overseas. But what if the greenback is having the same effects on the US economy, the largest in the world? Many historians and economists have studied the global effects of having the dollar as the world’s reserve currency. But what is the effect on the US economy itself? The authors of an influential essay on this question join us to talk about the feedback effects of dollar hegemony.
Readings:
- The Class Politics of the Dollar System, Yakov Feygin & Dominik Leusder, Phenomenal World
- Dollar and Empire, Herman Mark Schwartz, Phenomenal World
Comments
martynas aukst
very very good interview. i guess nathan tankus should be next?
paul hamed
Pettis? can't escape the 'snake' at the moment. (1) Sure this will be unpopular amoungst you people, but if you want to understand Asian Economics then 'Princes of The Yen' by Richard Werner is the place...YouTube video and book. Sure you will hate Richard, he help setup a local community bank (the Preston 'thing' is not a bank!), to give loans to productive enterprises rather than engage is mindless culture wars. (2) The story from these types is: It's fine for X Asian country to have the Liszt growth model with 'Window Guidance' but that comes to an end (because our graphs say so) and then what you need is neo-liberal Monetary Policy. i.e. The state loses any control of Bank credit to an independant central bank which only uses interest rates (note: that in all these countries interest rates go to zero, cause they become debt junkies). This is not what happens though...in Africa no country has followed the Liszt model with 'window guidance' they just get neoliberal Monetary Policy. The reality is that countries are coerced into neoliberal Monetary Policy as quickly as possible. They can produce so much economic jargon and graphs but the solution is always the same: in order to be efficient and productive you need neoliberal Monetary Policy. Of course Neoliberal Monetary Policy is anything but productive, oddly enough that fact is just ignored.
