"How could I become a better smeller? I like how you shifted away from questions of connoisseurship. You didn’t want to cultivate better aesthetic taste than other people. You just wanted to take in more of the world. Fredric Jameson once said, paraphrasing Adorno, that when you’re doing aesthetics as a Marxist, you can’t get away … Continue reading Becoming a Better Smeller
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The Stealth Erosion of Dollar Dominance
"We document a decline in the dollar share of international reserves since the turn of the century. This decline reflects active portfolio diversification by central bank reserve managers; it is not a byproduct of changes in exchange rates and interest rates, of reserve accumulation by a small handful of central banks with large and distinctive … Continue reading The Stealth Erosion of Dollar Dominance
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