Since the Second World War, the US dollar has been the world's sole international reserve currency, giving it, in the words of one critic, 'exorbitant privilege'. But in the wake of the worldwide financial crisis, will other currencies overtake it? And what impact would that have? Eichengreen explains the history and assesses what may come.

"incredibly relevant work" - Business Destinations"Short and eminently readable...In just 177 pages of text, [Eichengreen] provides a wealth of material for both the lay reader and the scholar...You can't do better than Eichengreen for a solid read on the dollar's wild ride." - American Prospect"A truly superb book on the role and global standing of the dollar--past, present and future. Those exposed to the evolution of the globally economy, and that's virtually all of us, will find his book extremely thoughtful and a great read.'" - Mohamed El-Erian, CEO and co-CIO of PIMCO"A fascinating and readable account of the dollar's rise and potential fall," - The Economist"A rare combination of macroeconomic mastery, historical erudition, good political instincts and the sort of stubborn common sense that is constantly placing familiar problems in a new light." - Christopher Caldwell, Financial Times"Timely.. elegant and pithy." - Harold James, Finance and Development "[A] brisk primer on the dollar's role in the international monetary system." - Bloomberg News"Exorbitant Privilege is a book for anyone who has been perplexed why, despite the frequent predictions of the dollar's demise over the last fifty years, it has managed to maintain its position as the world's pre-eminent reserve currency. The book includes both a lively historical account of the dollar's role in the international monetary system and an incisive and balanced discussion of future challenges." - Liaquat Ahamed, author of Lords of Finance"Compact and readable...Eichengreen adds much needed nuance and subtlety to the U.S. dollar debate....is [also] a pithy and amusing history of the international monetary system....for those fascinated by historical figures and events, behind-the-scenes machinations, and the logistical elements that make a complex currency and trade system work, the telling is very well done." - Business Insider"[A] detailed and fast-moving analysis of the rise of the greenback as an international currency." - EnlightenmentEconomics.com "When everyone from Brazil's leader to Sarah Palin questions the dollar's status as a reserve currency, it is time for an expert to sort out the truth from the hyperbole. Barry Eichengreen performs this service with unwavering clarity."- Sebastian Mallaby, Council on Foreign Relations"Eichengreen is the master of international money in history and its troubles.Exorbitant Privilege is a fine account of whence it came and a judicious survey of where it might go." - James K. Galbraith, author of The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too"Barry Eichengreen again demonstrates his ability to integrate economic history and theory with political analysis in order to illuminate the critical issues of international finance. The timely and accessible book is must reading for all concerned with the prospective balance of international power--financial, economic and political--in a multi-polar world." - William H. Janeway, Warburg Pincus"[S]urprisingly compact and readable book, Eichengreen adds much needed nuance and subtlety to the U.S. dollar debate . . . a pithy and amusing history of the international monetary system . . . those fascinated by historical figures and events, behind-the-scenes machinations, and the logistical elements that make a complex currency and trade system work, the telling is very well done." - BusinessInsider.com "[A] brief and readable account of how the international monetary system got where it is today and of past efforts, both successful and (mainly) unsuccessful, to reform it." - Foreign Affairs 

A definitive history of the rise and fall of the dollar by one of the world's leading experts Penetrating account of the global financial crisis's impact on currencies around the world Explains in accessible prose how the international currency system works Analyses in what ways the position of the US is likely to change in a reshaped global economy in the coming years

Barry Eichengreen is Professor of Political Science and Economics at the University of California, Berkeley. His previous books include The European Economy Since 1945, Global Imbalances and the Lessons of Bretton Woods, Capital Flows and Crises, and Financial Crises and What to Do About Them. He has written for the Financial Times, Wall Street Journal, Foreign Affairs, and other publications.

A definitive history of the rise and fall of the dollar by one of the world's leading experts Penetrating account of the global financial crisis's impact on currencies around the world Explains in accessible prose how the international currency system works Analyses in what ways the position of the US is likely to change in a reshaped global economy in the coming years