In an era marked by concerns over tariffs, political polarization, and shifting global alliances, questions about the durability of the U.S. dollar’s international dominance are becoming increasingly urgent. Economist Barry Eichengreen traces the evolution of cross-border money from the earliest coinage of the 7th century B.C.E. to modern cryptocurrencies and emerging central bank digital currencies. Eichengreen examines patterns in the life cycles of international currencies over the past 2,500 years, offering valuable lessons and insights about how currencies rise—and why they fall.
Eichengreen’s new book, Money Beyond Borders: Global Currencies from Croesus to Crypto (Princeton University Press), is available for purchase.
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