Dec 22, 2020Martín Guzmán
examines the lessons of Argentina’s recent debt restructuring, considers the applications of his (and Joseph Stiglitz’s) theory of “pseudo-wealth,” and shows what Dostoyevsky understood about economics.
Fifty years ago this August, President Richard Nixon ended the era when the dollar was firmly anchored to gold at a fixed price, auguring a new era of floating exchange rates. So, why does the greenback continue to reign over the international monetary and financial system?
dissects two recent books on the international monetary system since the US abandoned the gold standard in 1971.