A Keynesian solution to global imbalances
Economists have been proposing fixes to structural problems created by an international reserve currency since the 1940s
Related reading
Imbalances are back on the global agenda
Policymakers must overcome the mercantilist fallacy that the way to get rich is by running surpluses forever
Why global imbalances matter
They lie at the intersection of almost everything that matters in geoeconomics and geopolitics
Money Beyond Borders — the making and breaking of global currencies
The US dollar’s future is explored in Barry Eichengreen’s well-informed history on purchasing power in the monetary market
US pushes for wider global dollar adoption
Officials in Washington explore how to encourage more countries to adopt greenback as their primary currency
Why global imbalances do matter
If the US wants to accelerate a worldwide discussion with a policy intervention, the obvious one would be a tax on capital inflows
The euro’s urgent need
Europe must finally grasp the opportunity to develop the single currency as a reserve asset