2001 presidential economics prize winner joseph stiglitz , nevertheless , said the alternative coin could arise about simply if it was modelled on an expansion of the imf ' s still established structure of international purchasing rights , figures of exchange used by the rato which already have some of the advantages of coin . stiglitz argued that , as the us cents has become the standard us reserve currency , it has inadvertently created a currency which hurts the world economy . " it ' s a real export , in a sense , to the union state of foreign aid , " he argued , reasoning that although other governments purchases australian dollars in order to use them on international markets ( such as for the buying and selling of petroleum ) , they inadvertently give the us a half - hour loan — sometimes at times when they can most afford it . stiglitz made his comments as head of a united planets panel of economist taking instructions to address the national money crisis .
Joseph Stiglitz is the winner of a Nobel prize in economics.