How depreciating money could save the global economy

Illustration: Rebecca Zisser/Axios

Central banks have unloaded trillions of dollars of stimulus in efforts to push inflation above 2% in countries from the U.S. to Japan and across the eurozone, but nothing seems to be working.

Driving the news: One radical idea that could boost spending and help resuscitate moribund economies is Silvio Gessell's proposal for depreciating money, writes Stephen Mihm, an associate professor at the University of Georgia, in an editorial for Bloomberg.

The dollar is too strong for U.S. companies

A flexing George Washington
Illustration: Lazaro Gamio/Axios

The strength of the dollar is creeping in as a major worry for business leaders, and it's looking poised to grow stronger.

Details: The dollar index, which measures the greenback's strength against currency peers like the euro, yen and British pound, is rising toward its highest level since 2017.