Harvard Economist Kenneth Rogoff recalls a pivotal moment in 1971 that captured the boldness—and arrogance—behind US dollar dominance. In a recent episode of Economics, Applied, Ken shared that as inflation rose and global partners questioned the value of US debt, America’s response was unapologetically clear: “It’s our dollars. It’s your problem”.
This mindset still shapes the international monetary policy and financial system today.
Watch the full episode via the linked “related video”.
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