CPA Conference Day 1: “It’s The Dollar, Stupid.”

We all remember the famous line by Bill Clinton’s campaign advisor James Carville: “It’s the economy, stupid,” he said about what mattered most to voters. The economy still matters, of course, but one of the major fundamentals of the economy is the dollar and it’s non-competitive with the rest of the world. It’s too strong.…

Phenomenal World | The Class Politics of the Dollar System

CPA’s take: This well-written article explains why dollar hegemony and overvaluation is bad for US productivity and working-class people around the world.  The global dollar system has few national winners. In the typical frame, understanding the US dollar means understanding the “exorbitant privilege” it confers on America. But the role of the dollar in structuring…

America’s Trade Deficits

Editors note: Ken Austin, a former treasury official, explains the intricacies of capital flows, exchange rates, and the trade deficit. Blame U.S. Policies – Starting With Tax Laws By Ken Austin For over 15 years, the United States has been locked in an escalating and seemingly endless trade war with political allies and adversaries. The…