International Finance

Op-Ed

Keynesians are complacent about the dollar

Authors: Benn Steil and Manuel Hinds
Financial Times

Benn Steil's op-ed in the May 24th edition of the Financial Times, co-authored with Manuel Hinds, examines what it would mean for the United States to be obliged to function, like most of the world, without an internationally accepted money. They show why the U.S. not being able to pay its foreign debts in conjured currency would, contrary to Paul Krugman's view, be a big deal.

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