Eswar Prasad on 'The Dollar Trap: How the US Dollar Tightened Its Grip on Global Finance'

This author event is part of the Museum of American Finance's Lunch and Learn series.

The U.S. dollar's dominance seems under threat. The near collapse of the U.S. financial system in 2008-2009, political paralysis that has blocked effective policy-making and emerging competitors such as the Chinese renminbi have heightened speculation about the dollar's looming displacement as the main reserve currency. Yet, as The Dollar Trap by Eswar Prasad powerfully argues, the financial crisis, a dysfunctional international monetary system and US policies have paradoxically strengthened the dollar's importance.

Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshaling a range of arguments and data, and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system.

Go on a 90-minute walking tour of the Financial District for $15, which includes admission to the museum and this Lunch and Learn series with Eswar Prasad.