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The Dollar System in a Multi-Polar World

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  • James K. Galbraith

Abstract

The multipolar financial world is here. The architects are not Russia or China, but the hapless strategic leadership of the United States, informed by mainstream economics. The United States can survive it—whereas Europe may not—but only with major political and economic changes at home. These include definancialization and demilitarization, but first and foremost, a willingness to realize that the world has changed and that global hegemony based on neoliberal principles has failed.

Suggested Citation

  • James K. Galbraith, 2022. "The Dollar System in a Multi-Polar World," International Journal of Political Economy, Taylor & Francis Journals, vol. 51(4), pages 321-330, October.
  • Handle: RePEc:mes:ijpoec:v:51:y:2022:i:4:p:321-330
    DOI: 10.1080/08911916.2022.2139703
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