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The term monetary hegemony appeared in Michael Hudson's Super Imperialism, describing not only an asymmetrical relationship that the US dollar has to the global economy, but the structures of this hegemonic edifice that Hudson felt supported it, namely the International Monetary Fund and the World Bank. The US dollar continues to underpin the ...
The British pound sterling, in particular, was poised to dislodge the Spanish dollar's hegemony as the rest of the world transitioned to the gold standard in the last quarter of the 19th century. At that point, the UK was the primary exporter of manufactured goods and services, and over 60% of world trade was invoiced in pounds sterling.
The Plaza Accord was a joint agreement signed on September 22, 1985, at the Plaza Hotel in New York City, between France, West Germany, Japan, the United Kingdom, and the United States, to depreciate the U.S. dollar in relation to the French franc, the German Deutsche Mark, the Japanese yen and the British pound sterling by intervening in currency markets.
In both scenarios, dollar-cost averaging provides better outcomes: At $60 per share. Dollar-cost averaging delivers a $6,900 gain, compared to a $2,400 gain with the lump sum approach.
The Triffin dilemma (sometimes the Triffin paradox) is the conflict of economic interests that arises between short-term domestic and long-term international objectives for countries whose currencies serve as global reserve currencies.
The newly proposed Department of Government Efficiency or DOGE promises to make the U.S. government lean and effective. But champions of efficiency would do well to heed the warnings of 19th ...
The U.S. Federal Reserve is expected to reduce its benchmark policy rate by a quarter of a percentage point at the end of its policy meeting on Thursday, a decision that may seem a footnote given ...
Hegemony (/ h ɛ ˈ dʒ ɛ m ən i / ⓘ, UK also / h ɪ ˈ ɡ ɛ m ən i /, US also / ˈ h ɛ dʒ ə m oʊ n i /) is the political, economic, and military predominance of one state over other states, either regional or global. [1] [2] [3] In Ancient Greece (ca. 8th BC – AD 6th c.), hegemony denoted the politico-military dominance of the ...