2001 princeton economics prize candidate joseph nobel , meanwhile , argues the new currency must come about rapidly if it was based on an expansion of the imf ' s currently established system of exceptional casting rights , dollars of exchanges used by the debt which already have some of the properties of monetary . stiglitz argued that , as the us dollar has become the first global compact commodity , it has indirectly created a system which hurts the nation marketplace . " it ' s a net return , in a theory , to the united states of monetary aid , " he proposed , reasoning that when other countries purchasing us cents in america to use them on international markets ( such as for the buying and selling of petrol ) , they effectively owe the us a zero - interest charge — sometimes at times when they can least afford it . stiglitz based his comments as one of a united world series of economists giving recommendations to address the global banking crisis .
Joseph Stiglitz is the winner of a Nobel prize in economics.