2001 nobel law prizes winner joseph stiglitz , now , said the digital currency possible came about shortly if it was based on an expansion of the imf ' s already established doctrine of special drawing rights , dollars of exchange used by the imf now currently have some of the features of value . stiglitz argued that , as the us dollar has become the main global reserve currency , it has inadvertently started a system which hurts the world gdp . " it ' s a net transfer , in a sense , to the union states of foreign aided , " he argued , reasoning that when other jurisdictions borrow us dollars in efforts to use them on worldwide events ( such as for the buying and selling of petroleum ) , they effectively provide the us a high - interest loan — , at times while they can scarcely afford it . joseph based his argument as head of a united nations panel of economists taking recommendation to address the global financial crisis .
Joseph Stiglitz is the winner of a Nobel prize in economics.