China's Currency Games Have Been Helping, Not Harming, the Dollar
February 9, 2017 ·
Benn Steil, magazine_repost, China
It is the exorbitant privilege of the United States that it can conjure the world's primary reserve currency, Valéry Giscard d'Estaing, then French finance minister and later president, remarked half a century ago. This privilege, maintained as the dollar took the place of gold, allows the United…
Of Debt and Detriment
February 3, 2017 ·
Benn Steil, China, currency manipulation
It is the exorbitant privilege of the United States that it can conjure the world’s primary reserve currency, Valéry Giscard d'Estaing, then French finance minister and later president, remarked half a century ago. This privilege, maintained as the dollar took the place of gold, allows the United…
Why Is Paul Krugman Still Calling for Fiscal Stimulus?
April 1, 2016 ·
Benn Steil, Blog, Economics
Nobel economist and New York Times columnist Paul Krugman is fond of mocking his critics for being ideologues rather than economists. In contrast, Krugman's own policy prescriptions, he assures us, are based wholly on sound economic science.