Money Beyond Borders: The Past and Future of International Currencies

In an era marked by concerns over tariffs, political polarization, and shifting global alliances, questions about the durability of the U.S. dollar’s international dominance are becoming increasingly urgent. Economist Barry Eichengreen traces the evolution of cross-border money from the earliest coinage of the 7th century B.C.E. to modern cryptocurrencies and emerging central bank digital currencies. Eichengreen examines patterns in the life cycles of international currencies over the past 2,500 years, offering valuable lessons about how currencies rise—and why they fall.