Can The Dollar Be Dethroned?, with Ken Rogoff

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Americans are often told that they benefit from the privilege of the dollar serving as the world's currency. A strong dollar makes imports cheaper, facilitates demand for American companies, and is tied to cheap government borrowing. But what happens when this powerful privilege weakens? What does it even mean for the dollar to be “strong” or “weak” as a medium of exchange and investment? Why should Americans care that the dollar serves as the reserve currency for the world’s central banks? In his new book “Our Dollar, Your Problem,” Ken Rogoff, a Harvard professor and former chief economist for the International Monetary Fund, argues that the dollar is past “middle age” and that its global…