"Losing Faith: The Costs of Mismanaging the Dollar"
A recent article by Daniel McDowell has been published in World Politics Review, where McDowell discusses how the American political system pushed the world’s most powerful economy to the brink of default. McDowell states, "Beginning with the 2008 crisis and intensifying with each manufactured political crisis thereafter, an emergent consensus has popped up in capitals around the world: The global economy needs to become less dependent on the U.S. dollar and the increasingly unreliable government that backs it. Over time, such a change will threaten American economic power and prestige globally, and exact pain on Americans who benefit from the privileged economic position the U.S. maintains thanks to its almighty currency." 10/25/13