Barry J. Eichengreen
Barry Eichengreen is one of the world’s foremost experts on the international monetary system and global finance. He is knowledgeable in the developing economies of wealthy Asian countries and how the history and political environment affect European economy. In addition, Professor Eichengreen has studied the origin and effects of financial crises on global and domestic economies.
Barry's most recent book, In Defense of Public Debt, is co-authored with Asmaa El-Ganainy, Rui Esteves, and Kris James Mitchener. They argue that the ability of governments to issue debt has played a critical role in addressing emergencies — from wars and pandemics to economic and financial crises, as well as in funding essential public goods and services such as transportation, education, and healthcare.
His book, The Populist Temptation: Economic Grievance and Political Reaction in the Modern Era, focuses on the global resurgence of populism today. Alternating between the present and earlier populist waves from modern history, he argues that populists tend to thrive most in the wake of economic downturns.
One of the many issues upon which his advice and counsel is sought is the question of the future of the dollar — Will it lose its status as the world’s most important currency? He explores the future of the monetary system, the ramifications of the possible decline of the dollar on the system and on the US and world economies in his book, Exorbitant Privilege: The Rise and Fall of the Dollar. He also co-authored with Arnaud Mehl and Livia Chitu, How Global Currencies Work: Past, Present, and Future, a powerful new understanding of global currency trends.
An expert on global finance, Dr. Eichengreen has written extensively on the histories, causes and cures of financial crises. In his book, Hall of Mirrors: The Great Depression, The Great Recession, and the Uses — and Misuses — of History, Barry provides analysis of the two crises, the Great Depression of 1930 and the Great Recession in 2008, ominously finding that our 21st century crisis started off being much more severe than the previous one. Based on his book, Financial Crises: And What to Do about Them, readers learn how to manage financial crises more effectively in emerging markets and economies.
Barry Eichengreen is also an expert in the successful progress of economically underdeveloped countries. He studied the economic miracle of South Korea that in a short period of time moved from middle-income country into the major site of production and export of sophisticated goods and services. The knowledge and takeaways of this experience can be used to improve economies of the third world countries. His studies on this subject can be further explored in his books, The Korean Economy and From Miracle to Maturity.
Professor Eichengreen’s knowledge on fast developing Asian countries is not narrowed only on South Korea. Barry studied Chinese and Indian economies, contrasts in their development experience, and challenges to sustaining growth. In his book, Emerging Giants, Eichengreen compares and contrasts the most populated and the most economically promising countries to understand the success and mistakes of their economical development.
He could not miss Europe in his studies of the international economy. In his book, The European Economy since 1945, he argues that the continent's history has been critical to its economic performance, and that it will continue to be so going forward. Not so long ago, Europe started a challenging transition from the acquisition of known technologies to growth based on increased efficiency and innovation. Thus, the key questions now for the future are whether Europe and its constituent nations can adapt their institutions to the needs of a globalized knowledge economy, and whether in doing so, the continent's distinctive history will be an obstacle or an asset.
In his book Globalizing Capital, Eichengreen argues that the international monetary system can not be understood and effectively governed if it’s vast history is not taken into consideration. Brief and lucid, this book is intended not only for economists, but also a general audience of historians, political scientists, professionals in government and business, and anyone with a broad interest in international relations.
Dr. Eichengreen’s writings have appeared in the Financial Times, the Wall Street Journal, Foreign Affairs, and numerous other newspapers and periodicals. He writes a regular monthly column for Project Syndicate.
Dear Barry — This is the first opportunity I've had to thank you for your contribution to the event. We've had very positive feedback and in the days that followed I have heard several conversations stimulated by your projections of the possible futures of China, Germany, India and the USA. I noticed you in conversation with [...] in the garden afterwards, and that's something he in particular will remember — as an economist himself he knew your work and was very keen to meet you!
I would like to thank you for sharing your insights and ideas at our annual [”¦] Conference. We appreciate the time you spent developing your presentation on the central banks and currency regimes for our audience. Your talk gave us a unique view of the current economic environment, along with a fascinating historical perspective. Your viewpoints will be key input into our strategy discussions as we navigate the complex markets we face today and tomorrow.