2001 nobel economics prize winner joseph barbera , then , thought the new currency could come about quickly if it was relying on an expansion of the imf ' s currently established pattern of limited drawing rights , units of exchange used by the imf which already have some of the features of currency . stiglitz alleged that , as the us dollar has become the standard federal reserve monetary , it has thus created a system which shocks the world economy . " it ' s a net transfer , in a sense , to the united states of external aid , " he argued , reasoning that when other entities purchase the dollars in orders to use them on international markets ( such as for the buying and selling of fuels ) , they effectively give the us a zero - interest loan — especially at occasions when they can least afford it . stiglitz makes his comments as head of a united nations panel of economists giving proposals to address the recent financial instability .
Joseph Stiglitz is the winner of a Nobel prize in economics.