Eichengreen, Exorbitant Privilege (2011)

Barry Eichengreen.
Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System.
New York: Oxford University Press, 2011.

Book Information: Publisher; Google Books; Amazon.com.

Author Information:

• Barry Eichengreen, Department of Economics, University of California, Berkeley.
• Barry Eichengreen - What's New (papers, books, etc).
• Barry Eichengreen, Wikipedia.
• Berkeley Economic History Laboratory.
• Barry Eichengreen, Project Syndicate.

Video:

• Barry Eichengreen and Harry Kreisler, Historical Perspective on the Global Economic Crisis, Conversations with History, University of California, Berkeley, 22 January 2009.
  (Event webpage at the Conversations with History website.)
• Barry Eichengreen and Harry Kreisler, The Rise and Fall of the Dollar, Conversations with History, University of California, Berkeley, 04 January 2011.
  (Event webpage at the Conversations with History website.)
  This video may be the best introduction to Eichengreen's book and topics among the videos listed here.
• Barry Eichengreen, Exorbitant Privilege: Rise, Fall and Future of the Dollar, Carnegie Council, New York, 13 January 2011.
  (Event webpage at the Carnegie Council for Ethics in International Affairs; includes transcript and audio.)
• Barry Eichengreen, Exorbitant Privilege, Woodrow Wilson School of Public and International Affairs, Princeton University, 07 February 2011.
  Discussants: Harold James; Hyun S. Shin; G. John Ikenberry.
  (Event webpage at the Woodrow Wilson School.)
• Barry Eichengreen, The Dollar, the Crisis, and the Future of the International Monetary System, Duke University, 25 February 2011.
  (Event announcement at the Center for International Studies, John Hope Franklin Center for Interdisciplinary and International Studies, Duke University.)
• Barry Eichengreen, The Rise and Fall of the Dollar and the Future of the International Monetary System, University of Maryland, Baltimore County, 14 March 2011.
  (Event webpage at the University of Maryland, Baltimore County.)
• Barry Eichengreen, Exorbitant Privilege: The Rise and Fall of the Dollar, London School of Economics, 22 March 2011.
  (Event webpage at LSE.)
• Barry Eichengreen, The Rise and Fall of the Dollar and the Future of the International Monetary System, The UCSD Economics Roundtable, University of California, San Diego, 22 April 2011.
  (Broadcast webpage UCSD-TV; 2011 Archive for The UCSD Economics Roundtable.)
• Barry Eichengreen, Europe's Never Ending Crisis, University of Oregon, 17 November 2011.
  (Event announcement at the University of Oregon; Video at The University of Oregon Media Channel.)
• Gerald Friedman, Econ 397GR Great Recession Lectures, University of Massachusetts, Amherst, May 2012.
• Steve Keen, Why the global economy is stagnating, UK Chartered Financial Advisors Society, May 2015.
• Steve Keen, Will We Crash Again?, FT/Alphaville, July 2015.

Eichengreen published a more detailed book on the history of the international monetary system a few years before Exorbitant Privilege. It is:
Globalizing Capital: A History of the International Monetary System, second edition, Princeton University Press, 2008.
[Publisher; Google Books; Amazon.com.]
Exorbitant Privilege has a less technical review of this history (chapters 1-4) followed by chapters on the 2007-2008 financial crisis, recent developments in other currencies that could become alternatives to the dollar, and prospects for the future (chapters 5-7).

The final two paragraphs of Exorbitant Privilege:

The point is that it is not the exchange rate or the net foreign investment position as much as the fundamental underlying health of the economy that matters for geopolitical leverage. If one wants a single unified explanation for the behavior of the exchange rate and the net foreign investment position, it would again be the fundamental underlying health of the economy. Whether the dollar rises or falls by 30 percent will matter much less for U.S. strategic influence than whether U.S. economic growth averages 2 or 4 percent per annum over the next decade.

Again, there is a more alarming scenario: instead of the dollar declining gradually to somewhat lower levels, there is a dollar crash. In this case all bets are off. Here it is important to remember that the only plausible scenario for a dollar crash is one in which we bring it upon ourselves. This also means that it is within our grasp to avoid the worst. The good news, such as it is, is that the fate of the dollar is in our hands, not those of the Chinese. (page 177)

Some Wikipedia Articles:

• International monetary systems.
• Reserve currency.
• World currency.
• Currency.
• Foreign exchange market.
• Floating exchange rate
• List of countries by exchange rate regime.
• History of money.
• History of the United States dollar.
• Gold standard.
• Seigniorage.
• Banker's acceptance.
• Pound sterling.
• Panic of 1907.
• Federal Reserve System.
• Wall Street Crash of 1929.
• Great Depression of the 1930s.
• Causes of the Great Depression.
• Balance sheet recession.
• Bretton Woods system.
• Triffin dilemma.
• Marshall Plan.
• Dodge Plan.
• Post–World War II economic expansion.
• Nixon Shock (1971).
• Smithsonian Agreement (December 1971).
• 1973 oil crisis.
• 1970s energy crisis.
• 1973–75 recession.
• The Great Inflation (1970s).
• Economic history of the United Kingdom : 1960–1979: the Sixties and Seventies.
• Economic history of the United States : Inflation woes: 1970s.
• Snake in the tunnel (early 1970s).
• European Monetary System.
• European Exchange Rate Mechanism (1979-1999).
• Economic and Monetary Union of the European Union.
• Maastricht Treaty (1992).
• History of the Euro.
• Optimum currency area.
• 1997 Asian financial crisis.
• Financial crisis of 2007–08.
• Great Recession.
• Causes of the Great Recession.
• Renminbi.
• Internationalization of the renminbi.
• Economy of China.

Some Notable People:

• J. P. Morgan (1837-1913).
• Nelson Aldrich (1841-1915).
• Frank Vanderlip (1864-1937).
• Henry Davison (1867-1922).
• Paul Warburg (1868-1932).
• Montagu Norman (1871-1950).
• Benjamin Strong (1872-1928).
• Abram Piatt Andrew, Jr. (1873-1936).
• John Maynard Keynes (1883-1946).
• George Marshall (1880-1959).
• Joseph Dodge (1890-1964).
• Harry Dexter White (1892-1948).
• Arthur F. Burns (1904-1987).
• Robert Triffin (1911-1993).
• G. William Miller (1925-2006).
• Valéry Giscard d'Estaing (1926-).
• Paul Volcker (1927-).
• Jacques Delors (1925-).
• Robert Mundell (1932-).