Paul Blustein on the Rise, Dominance, and Current Challenges to King Dollar

保罗·布鲁斯坦谈美元霸权的崛起、主导地位及当前挑战

Macro Musings with David Beckworth

教育

2025-04-14

57 分钟
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Paul Blustein is a former Washington Post and Wall Street Journal journalist who has authored several acclaimed books on global economic institutions. In Paul’s first appearance on the show, he discusses the historical rise of the dollar, it’s present-day power, how it compares to other global currencies, current challenges to its power, the rise of crypto, and much more. Check out the transcript for this week’s episode, now with links. Recorded on March 26th, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow Paul Blustein on X: @PaulBlustein Follow the show on X: @Macro_Musings Check out our new AI chatbot: the Macro Musebot! Join the new Macro Musings Discord server! Join the Macro Musings mailing list! Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel  Timestamps: (00:00:00) – Intro (00:00:52) – Paul’s Books (00:05:08) – Motivations for King Dollar (00:09:02) – History of the Dollar (00:12:57) – Nixon Shock of 1971 (00:23:36) – Paul Volcker (00:33:14) – Dollar Dominance and Statecraft (00:40:46) – What About the Euro? (00:44:42) – Cryptocurrency as a Rival to the Dollar (00:47:54) – Drawbacks of Dollar Dominance (00:57:03) – Outro
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  • Welcome to Macro Musings,

  • where each week we pull back the curtain and take a closer look at the most important macroeconomic issues of the past,

  • present, and future.

  • I am your host, David Beckworth, a senior research fellow with the Merquittis Center at George Mason University,

  • and I'm glad you decided to join us.

  • Our guest today is Paul Bluestine.

  • Paul is a former Washington Post and Wall Street Journalist and author of several acclaimed books on the global economic institution.

  • Paul has a new book titled Keem Dollar, where he explores the dollar's historical rise,

  • its present-day power, and the challenges to its dominance.

  • He joins us today to discuss his new book and recent developments surrounding the global dollar system.

  • Paul, welcome to the show.

  • My pleasure.

  • It's great to have you on,

  • and it's very special for me to have you as the guest today

  • because you played an important part of me being here in this studio.

  • So when I was wrapping up graduate school,

  • I was reading a book of yours called The Chasing Inside the Crisis

  • that Rocked the Global Financial System and Humble the IMF.

  • And you covered the Asian financial crisis, the late 90s,

  • lots of great stories, lots of good international economics in here.