In “The Exorbitant Privilege,” Richard Martin explores how the United States leverages its unique position as the issuer of the world’s primary reserve currency to sustain high levels of sovereign debt while fostering global economic growth. Contrary to populist claims, this system is not exploitative but rather a mutually beneficial framework that enhances both American and allied economic power. Discover how dollar recycling, strategic outsourcing, and the U.S. nuclear umbrella create a win-win scenario, reinforcing global demand for U.S. assets and ensuring strategic stability. Dive into the intricate dynamics that underpin America’s fiscal flexibility and geopolitical influence.
