2001 nobel economics contest contestant charles stiglitz , meanwhile , that the new currency could came about quickly if it was base on an expansion of the debt ' s already established code of local draft rights , kinds of payment used by the imf which currently have some of the functions of capital . stiglitz wrote that , as the usa dollar has become the only global reserve currency , it has inadvertently produced a system which hurts the world economy . " it ' s a net transfer , in a sense , to the member states of mutual aid , " he argued , so that where other firms purchase us dollars in order to use them on worldwide markets ( such as for the acquiring and selling of gas ) , they effectively give the us a one - interest bond — sometimes at times when they can least afford it . laureates made his point as director of a united nation panel of analysts giving recommendations to solution the global credit crisis .
Joseph Stiglitz is the winner of a Nobel prize in economics.