{"id":104321,"date":"2025-06-13T14:16:55","date_gmt":"2025-06-13T13:16:55","guid":{"rendered":"https:\/\/www.fondazionepirelli.org\/?p=104321"},"modified":"2025-06-13T14:16:55","modified_gmt":"2025-06-13T13:16:55","slug":"beyond-the-dollar","status":"publish","type":"post","link":"https:\/\/www.fondazionepirelli.org\/en\/corporate-culture\/book-reviews\/beyond-the-dollar\/","title":{"rendered":"Beyond the dollar"},"content":{"rendered":"<p><em>A book on monetary history helps to better understand the economy\u2019s evolution and prospects<\/em><\/p><p>Although it is often said that understanding the past helps us to better navigate the present,\u00a0 it is always worth remembering,\u00a0 even when the topic seems far removed from one&#8217;s own area of interest. This is the case with monetary economics and economic history, which Kenneth Rogoff discusses in his book, \u2018Our Dollar, Your Problem\u2019, just published in Italy under the title \u2018L&#8217;impero del dollaro\u2019.<\/p>\n<p>In the book, Rogoff \u2014 who was chief economist at the International Monetary Fund for many years \u2014 argues that the rise of the US currency to global prominence was also due to a certain amount of luck. This is a thesis that certainly needs to be carefully evaluated and verified, but it is based on his direct experience of interacting with policymakers and world leaders. In particular, the author recounts the exceptional post-war period of the &#8216;greenback&#8217;,\u00a0 how it outperformed the Japanese yen, the Soviet rouble and the euro. The book then moves on to discuss the challenges the dollar faces today,\u00a0 from cryptocurrencies and the Chinese yuan to the end of an era of persistently low interest rates and inflation, and political instability and the possible break-up of the dollar bloc.<\/p>\n<p>The narrative begins with a description of past &#8216;challengers&#8217; to the dollar&#8217;s dominance, moves on to explore the situation of the current &#8216;challenger&#8217; (China), and then considers the implications of &#8216;living with the dollar&#8217; and the potential for alternative currencies.\u00a0 Indeed, Rogoff believes that the era of the so-called Pax Dollar is by no means destined to last forever. Rogoff analyses how the US currency has managed to maintain its supremacy despite widespread discontent among many countries with the global monetary system. He shows how unchallenged power and an unrivalled set of privileges can lead to a future of increasing financial instability worldwide.<\/p>\n<p>Kenneth Rogoff&#8217;s book on economics and monetary history is one that should be read carefully, as doing so can help readers develop a more conscious understanding of reality.<\/p><p><strong>L\u2019impero del dollaro<\/strong><\/p>\n<p>Kenneth Rogoff<\/p>\n<p>Egea, 2025<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A book on monetary history helps to better understand the economy\u2019s evolution and prospectsAlthough it is often said that understanding the past helps us to better navigate the present,\u00a0 it is always worth remembering,\u00a0 even when the topic seems far removed from one&#8217;s own area of interest. This is the case with monetary economics and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":104292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,56],"tags":[],"class_list":["post-104321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-book-reviews","category-corporate-culture"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Beyond the dollar - Fondazione Pirelli<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fondazionepirelli.org\/en\/corporate-culture\/book-reviews\/beyond-the-dollar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Beyond the dollar - Fondazione Pirelli\" \/>\n<meta property=\"og:description\" content=\"A book on monetary history helps to better understand the economy\u2019s evolution and prospectsAlthough it is often said that understanding the past helps us to better navigate the present,\u00a0 it is always worth remembering,\u00a0 even when the topic seems far removed from one&#8217;s own area of interest. 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