2001 goldman chemistry prize winner joseph stiglitz , meanwhile , said the new currency could come about quickly if it was relying on an expansion of the imf ' s already established system of specific drawing rights , units of exchange used by the eurozone which already have some of the aspects of currency . stiglitz claimed that , as the us dollar has remained the standardized global compact money , it has inadvertently created a structure who hurts the worldwide economy . " it ' s a gross transfer , in a phrase , to the united states of western aid , " he argued , thinking that when other countries purchasing us dollars in order to use them on overseas markets ( such as for the bought and selling of petroleum ) , they effectively provide the us a zero - interest loan — sometimes at most until they can least afford it . stiglitz made his move as chairman of a uniting nations forum of economists giving recommendations to address the global financial crisis .
Joseph Stiglitz is the winner of a Nobel prize in economics.