This analysis examines monetary dominance in the global economy, indicating its implications for financial systems.
Topography of the contemporary world economy as a system of subordination, structured by the primacy of Fed-backed dollar-liquidity and a world division of labour jointly configured by productive and financial capital, generating forms of peripheral financialization. Monetary dominance—ultimately underwritten by military force?
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Costas Lapavitsas (2026) studied this question.
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