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Our Dollar, Your Problem: An Insider's View of Seven Turbulent Decades of Global Finance, and the Road Ahead

Autor Kenneth Rogoff
en Limba Engleză Hardback – 6 mai 2025

Demontăm astăzi mitul conform căruia hegemonia dolarului american este un dat natural și imuabil al economiei globale. În Our Dollar, Your Problem, Kenneth Rogoff demonstrează autoritar că poziția „biletului verde” nu este doar rezultatul unei strategii impecabile, ci și al unei doze considerabile de noroc istoric. Găsim în această carte o analiză lucidă a modului în care dolarul a depășit yenul, rubla și euro în ultimele șapte decenii, dar și un avertisment sever: această eră a „Pax Dollar” se apropie de un punct critic de inflexiune. Putem afirma că rigoarea academică a lui Rogoff, profesor la Harvard, este dublată aici de o perspectivă rară de insider, oferind detalii din culisele întâlnirilor cu lideri mondiali care au modelat sistemul monetar actual. Cititorul care a aplicat ideile din Exorbitant Privilege de Barry Eichengreen va găsi aici continuarea necesară, trecând de la înțelegerea avantajelor istorice la analiza riscurilor contemporane generate de fragmentarea geopolitică și ascensiunea yuanului. În contextul operei sale anterioare, dacă în Sovereign Debt autorul explora mecanismele crizelor de stat, în lucrarea de față el extinde cadrul, arătând cum însuși pilonul central al stabilității — dolarul — poate deveni sursa unei instabilități sistemice. Spre deosebire de abordările pur teoretice din Handbook of International Economics, acest volum adoptă un ton accesibil, dar ferm, despre provocările venite din zona activelor digitale și a inflației persistente. Este o lectură despre vulnerabilitatea puterii și despre modul în care aroganța politică poate duce la erori economice fundamentale.

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Specificații

ISBN-13: 9780300275315
ISBN-10: 0300275315
Pagini: 360
Ilustrații: 19 b-w illus.
Dimensiuni: 156 x 235 x 36 mm
Greutate: 0.68 kg
Editura: Yale University Press
Colecția Yale University Press

De ce să citești această carte

Această carte este esențială pentru investitori, economiști și orice cititor interesat de geopolitică. Veți învăța să recunoașteți semnele fragilității sistemului monetar actual și veți înțelege de ce viitorul dolarului nu mai depinde doar de forța economică a SUA, ci și de capacitatea de a naviga într-o lume multipolară. Câștigați o perspectivă strategică asupra modului în care datoria globală și noile tehnologii financiare rescriu regulile jocului.


Despre autor

Kenneth Rogoff este profesor de politici publice și economie la Universitatea Harvard, ocupând catedra Thomas D. Cabot. Recunoscut la nivel mondial ca unul dintre cei mai influenți economiști contemporani, Rogoff a servit drept economist-șef al Fondului Monetar Internațional. Expertiza sa vastă în macroeconomie internațională și istoria crizelor financiare este fundamentată pe decenii de cercetare academică și consultanță la cel mai înalt nivel politic, fiind autorul unor lucrări de referință care analizează datoria suverană și sistemele de plăți globale.


Descriere scurtă

A National Bestseller • Recommended by Financial Times as “What to Read in 2025”
 
“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
 
A leading economist explores the global rise of the U.S. 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.

Recenzii

“In this brilliant book, Rogoff warns that the primacy of the dollar is at risk.”—Martin Wolf, Financial Times, “Best Summer Books of 2025: Economics”

“[Rogoff’s] autobiographical element nicely enhances the sometimes technical (but always accessible) monetary story.”—James Grant, Wall Street Journal

“One of [Rogoff’s] past books presciently warned about the dangers of a financial crisis. [His new book] Our Dollar, Your Problem worries that we are jeopardizing the dollar’s pivotal role in the global economy. That should matter to all Americans.”—Fareed Zakaria, Washington Post

“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

“A well-written, often surprisingly lively book.”—Bill Emmott, Financial Times

“Kenneth Rogoff’s book shows that change is unstoppable, that we should expect the unexpected.”—Kristalina Georgieva in Wall Street Journal, “Who Read What in 2025”

“[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, Ezra Klein Show (podcast)

“Rogoff . . . skillfully blends personal narrative with a compelling account of advances in international macroeconomics, a field he has helped define.”—Maurice Obstfeld, Project Syndicate

“An invaluable resource.”—Ian Bremmer, via LinkedIn

“Rogoff has wrestled with the dollar question for almost half a century. . . . [He provides] a serious argument that the dollar’s days of dominance are over.”—Howard Davies, Literary Review

“A lucid and sometimes laconic narrative of international economics.”—Stephen Grenville, The Interpreter

“An accessible analysis of looming challenges to economic stability.”—Francis Ghiles, Arab Weekly

“An excellent overview of the evolution of the world economy during the last seven decades, and a warning against complacency.”—Ivo Maes, Central Banking

“Provides both timely analysis and timeless insights. . . . Essential reading for anyone seeking to understand the forces shaping the global monetary system.”—Maximilian Magnacca, Society of Professional Economists

“A rare and valuable read.”—Kim Yutae, Maeil Business Newspaper

“Incredibly timely.”—Piotr Rosik, Obserwator Finansowy (Poland)

“Offers a clear-eyed reassessment of the greenback’s role in the international monetary system.”—Şebnem Kalemli-Özcan, Project Syndicate

“Kenneth Rogoff approaches global finance with the same strategic foresight that made him a chess grandmaster. . . . [An] excellent book.”—Tyler Cowen, Conversations with Tyler

“A clear-eyed reassessment of the greenback’s role in the international monetary system.”—Şebnem Kalemli-Özcan, Project Syndicate, “Commentators’ Best Reads in 2025”

“It’s an important book, accessible and entertaining. If this time is different, it will help you understand why.”—Kevin Coldiron, Forbes

“As the renowned economist Kenneth Rogoff convincingly argues in his highly engaging new book, a dominant currency is incredibly difficult to displace.”—Lael Brainard, Foreign Affairs

Finalist in the PROSE Awards Economics category, sponsored by the AAP

“Ken Rogoff is one of the world’s leading experts on international finance. In this book he combines his wide experience as a policymaker, academic, and observer of the global economy to provide a fascinating and accessible analysis of looming challenges to economic and financial stability.”—Ben Bernanke, former chair, Federal Reserve

“Rogoff delivers a grandmaster performance, providing compelling insight into the history and future of dollar dominance.”—Magnus Carlsen

“Before he became an economist, Rogoff was a chess grandmaster. Here he reveals that he has become the dismal science’s wittiest and most engaging writer.”—Niall Ferguson, author of The Ascent of Money

“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

“Rogoff aptly demonstrates that American dollar dominance was neither inevitable nor guaranteed to continue—but rather that it depends on America not abandoning the responsibility that comes with its privileged position and getting its fiscal house in order.”—Garry Kasparov, author of Winter Is Coming
 
“Will the U.S. dollar maintain its dominance? With unmatched wisdom and experience, Ken Rogoff unpacks this critical question in this masterful book.”—Atif Mian, author of House of Debt
 
“Part magisterial analysis of global finance, part autobiography of one of the great economists of our times, Our Dollar, Your Problem is both educative and lively at the same time.”—Raghuram Rajan, author of The Third Pillar
 
“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 must-read.”—Nouriel Roubini, coauthor of Crisis Economics


Notă biografică

Kenneth 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.