The power of the dollar sustains U.S. imperialism. But rising multipolarity, an overuse of U.S. sanctions, the rise of alternative trading arrangements that sidestep the dollar, and a very obvious crisis of western capitalism have led to panic about a decline in dollar hegemony. What gives the dollar so much power in the first place? What would a world without dollar hegemony look like? What would it mean for those in the imperial core who benefit from this system? How about those in the third world on whose backs dollar hegemony is built? And where does the war in Ukraine fit into it all?
To discuss this and more, Rania Khalek was joined by Prabhat Patnaik, marxist economist, professor emeritus at JNU, and author of many books including “A Theory of Imperialism” and the more recent “Capital and Imperialism: Theory, History, and the Present,” both co-authored with Utsa Patnaik.
BreakThrough News is building the media arm of the movement. We tell the untold stories of resistance from poor and working-class communities — because out of these stories we will construct a different narrative of the world, as it is and in real time.
Think to yourself, is this article something that would be published anywhere other than BreakThrough?
Five mega-corporations dominate the media landscape — controlling 90% of what we read, watch and listen to. People’s movements in every corner of the globe are changing history and shifting consciousness. But these movements barely receive any coverage from the corporate media. They need visibility. They need amplification. They need a media arm to break through.
Working-class people deserve better, we deserve media for and by us. We are not funded by billionaires or corporations – we are funded by you. Without you, BreakThrough would not be possible, so become a member and build the media arm of the movement with us.
To send a check to BreakThrough News, please make it out to BreakThrough / BT Media Inc. and send to 320 W. 37th Street, NY, NY 10018. Donations are tax-deductible in accordance with the law.
Rania Khalek is a Middle East-based journalist for Breakthrough News. Her work has also appeared at The Grayzone, The intercept, Truthout, Fairness and Accuracy in Reporting, Al Jazeera, The Nation, Salon, AlterNet, Vice and more.
