the (in)sanity of the US government

Sane governments do not default when they have a choice – especially not when they enjoy the “exorbitant privilege” of issuing the only true global currency. We are about to find out whether the US still has a sane government.

Barry Eichengreen, “The Dollar and the Debt Ceiling“, Project Syndicate, 10 October 2013.

Berkeley economic historian Barry Eichengreen (born 1952) is a former senior policy adviser at the International Monetary Fund. He is best known for the book Golden Fetters: The Gold Standard and the Great Depression, 1919-1939 (Oxford University Press, 1992). His latest book is Exorbitant Privilege: The Rise and Fall of the Dollar and the Future of the International Monetary System (Oxford University Press, 2011).

HT Arturo Lopez-Levy.

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