Our Dollar, Your Problem: An Insider's View of Seven Turbulent Decades of Global Finance, and the Road Ahead

by Kenneth S. Rogoff, Evan Sibley (Read by)

Overview

Notes From Your Bookseller

Will the dollar’s dominance withstand the current state of global affairs? With the rise of cryptocurrencies and a changing economic landscape, Rogoff unpacks this loaded question in an entertaining narrative.

A National Bestseller • Recommended by Financial Times as “What to Read in 2025”
 
“The central argument of Our Dollar, Your Problem—that the greenback’s pre-eminence was never guaranteed and might plausibly be overturned—could hardly be more timely.”—The Economist
 
A leading economist explores the global rise of the U.S. dollar and shows why its future stability is far from assured
 
Our Dollar, Your Problem argues that America’s currency might not have reached today’s lofty pinnacle without a certain amount of good luck. Drawing in part on his own experiences, including with policymakers and world leaders, Kenneth Rogoff animates the remarkable postwar run of the dollar—how it beat out the Japanese yen, the Soviet ruble, and the euro—and the challenges it faces today from crypto and the Chinese yuan, the end of reliably low inflation and interest rates, political instability, and the fracturing of the dollar bloc. Americans cannot take for granted that the Pax Dollar era will last indefinitely, not only because many countries are deeply frustrated with the system, but also because overconfidence and arrogance can lead to unforced errors. Rogoff shows how America’s outsized power and exorbitant privilege can spur financial instability—not just abroad but also at home.

Product Details

ISBN-13:	9798228583986
Publisher:	Blackstone Publishing
Publication date:	08/09/2025
Product dimensions:	5.30(w) x 7.50(h) x (d)
Age Range:	18 Years

About the Author

Kenneth S. Rogoff is Maurits C. Boas Professor of Economics at Harvard University and former International Monetary Fund chief economist. One of the world’s foremost observers on the global economy, he is coauthor of the New York Times bestselling This Time Is Different: Eight Centuries of Financial Folly.

Evan Sibley is an in-demand narrator with a background in film and stage acting.

Table of Contents

Preface Chapter 1 - Introduction: The Making of a Dominant Currency PART I - PAST CHALLENGERS TO DOLLAR DOMINANCE - Chapter 2 - The Soviet Challenge Chapter 3 - Japan and the Yen Chapter 4 - The Single Currency in Europe PART II - CHINA: THE PRESENT-DAY CHALLENGER - Chapter 5 - This Time Is Different Chapter 6 - Zhu Rongji’s Uncanny Forecasts Chapter 7 - The People’s Bank of China Chapter 8 - Prelude to Crisis Chapter 9 - The End of High Growth Chapter 10 - The Inevitability of Dollar Decoupling PART III - EVERYONE ELSE’S PROBLEM: LIVING WITH THE DOLLAR - Chapter 11 - The Lure of Fixed Exchange Rates Chapter 12 - Hyperinflation Chapter 13 - When Exchange Rate Pegs Outlive Their Shelf Life Chapter 14 - Lebanon and Argentina: Unique or Prototypical? Chapter 15 - The Tokyo Consensus Chapter 16 - Fixed Exchange Rates Redux PART IV - ALTERNATIVE CURRENCIES - Chapter 17 - Global Currencies Chapter 18 - Cryptocurrencies and the Future of Money Chapter 19 - Central Bank Digital Currencies PART V - THE PERKS AND BURDENS OF BEING THE DOMINANT CURRENCY - Chapter 20 - Perks of Currency Dominance Chapter 21 - Exorbitant Privilege or Taxation Without Representation? Chapter 22 - Small Ways the United States Helps Countries Deal with Dollar Dominance Chapter 23 - Costs of Being a Dominant Currency PART VI - PEAK DOLLAR DOMINANCE - Chapter 24 - Central Bank Independence: The Bulwark of Currency Dominance Chapter 25 - Debtor’s Empire: The United States’ Achilles’ Heel Chapter 26 - The Siren Call of “Lower Forever” Interest Rates Chapter 27 - The End of the Pax Dollar Era?

Editorial Reviews

Rogoff brilliantly describes the dominance of the dollar across time and space, its contenders, and the limits to its immortality, weaving in his personal experiences which makes for a delightful read.”

Gita Gopinath

A well-written, often surprisingly lively book.”

Financial Times (London)

The central argument of Our Dollar, Your Problem—that the greenback’s pre-eminence was never guaranteed and might plausibly be overturned—could hardly be more timely.”

The Economist (London)

[Rogoff’s] autobiographical element nicely enhances the sometimes technical (but always accessible) monetary story.”—James Grant, Wall Street Journal

“One of [Rogoff’s] past books presciently warned about the dangers of a financial crisis. [His new book] Our Dollar, Your Problem worries that we are jeopardizing the dollar’s pivotal role in the global economy. That should matter to all Americans.”—Fareed Zakaria, Washington Post

“The central argument of Our Dollar, Your Problem—that the greenback’s pre-eminence was never guaranteed and might plausibly be overturned—could hardly be more timely.”—The Economist

“A well-written, often surprisingly lively book.”—Bill Emmott, Financial Times

“[Rogoff’s new book is] very well timed. . . . It’s a history of dollar dominance—how we built it, the challenges to it, and a warning, written before the Trump administration, that the rest of the world was already beginning to look for exits from it.”—Ezra Klein, Ezra Klein Show (podcast)

“Rogoff . . . skillfully blends personal narrative with a compelling account of advances in international macroeconomics, a field he has helped define.”—Maurice Obstfeld, Project Syndicate

“An invaluable resource.”—Ian Bremmer, via LinkedIn

“Rogoff has wrestled with the dollar question for almost half a century. . . . [He provides] a serious argument that the dollar’s days of dominance are over.”—Howard Davies, Literary Review

“A lucid and sometimes laconic narrative of international economics.”—Stephen Grenville, The Interpreter

“An accessible analysis of looming challenges to economic stability.”—Francis Ghiles, Arab Weekly

“An excellent overview of the evolution of the world economy during the last seven decades, and a warning against complacency.”—Ivo Maes, Central Banking

“Kenneth Rogoff approaches global finance with the same strategic foresight that made him a chess grandmaster. . . . [An] excellent book.”—Tyler Cowen, Conversations with Tyler

“It’s an important book, accessible and entertaining. If this time is different, it will help you understand why.”—Kevin Coldiron, Forbes

“Ken Rogoff is one of the world’s leading experts on international finance. In this book he combines his wide experience as a policymaker, academic, and observer of the global economy to provide a fascinating and accessible analysis of looming challenges to economic and financial stability.”—Ben Bernanke, former chair, Federal Reserve

“Rogoff delivers a grandmaster performance, providing compelling insight into the history and future of dollar dominance.”—Magnus Carlsen

“Before he became an economist, Rogoff was a chess grandmaster. Here he reveals that he has become the dismal science’s wittiest and most engaging writer.”—Niall Ferguson, author of The Ascent of Money

“Rogoff brilliantly describes the dominance of the dollar across time and space, its contenders, and the limits to its immortality, weaving in his personal experiences which makes for a delightful read.”—Gita Gopinath, first deputy managing director, International Monetary Fund

“Rogoff aptly demonstrates that American dollar dominance was neither inevitable nor guaranteed to continue—but rather that it depends on America not abandoning the responsibility that comes with its privileged position and getting its fiscal house in order.”—Garry Kasparov, author of Winter Is Coming
 
“Will the U.S. dollar maintain its dominance? With unmatched wisdom and experience, Ken Rogoff unpacks this critical question in this masterful book.”—Atif Mian, author of House of Debt
 
“Part magisterial analysis of global finance, part autobiography of one of the great economists of our times, Our Dollar, Your Problem is both educative and lively at the same time.”—Raghuram Rajan, author of The Third Pillar
 
“A tour de force—Ken Rogoff pairs delightful personal anecdotes with a sweeping portrait of the international monetary system. Rogoff’s prescient view on the possibly ‘shrinking’ dollar is certainly not to be taken lightly.”—Hélène Rey, Lord Bagri Professor of Economics at London Business School
 
“A must-read.”—Nouriel Roubini, coauthor of Crisis Economics

From the Publisher

[Rogoff’s] autobiographical element nicely enhances the sometimes technical (but always accessible) monetary story.”

Wall Street Journal

It’s an important book, accessible and entertaining. If this time is different, it will help you understand why.”

Forbes

[Rogoff] worries that we are jeopardizing the dollar’s pivotal role in the global economy. That should matter to all Americans.”

Washington Post

A tour de force—Ken Rogoff pairs delightful personal anecdotes with a sweeping portrait of the international monetary system. Rogoff’s prescient view on the possibly ‘shrinking’ dollar is certainly not to be taken lightly.”

Lord Bagri Professor of Economics at London Busine Hélène Rey

[Rogoff’s new book is] very well timed…It’s a history of dollar dominance—how we built it, the challenges to it, and a warning, written before the Trump administration, that the rest of the world was already beginning to look for exits from it.”

Ezra Klein

The central argument of Our Dollar, Your Problem—that the greenback’s pre-eminence was never guaranteed and might plausibly be overturned—could hardly be more timely.”

The Economist

[Rogoff’s] autobiographical element nicely enhances the sometimes technical (but always accessible) monetary story.”

Wall Street Journal James Grant