The USD as the World’s “Exorbitant Privilege”
The modern dollar (USD) is no longer simply a domestic American currency. It is a globally distributed financial network.
Why SACT Logic is the Operational Core of Tokenization
Citation APA (7th Edition) Pennings, A.J. (2026, Jul 31) Why SACT Logic is the Operational Core of Tokenization. apennings.com https://apennings.com/how-it-came-to-rule-the-world/digital-monetarism/why-sact-logic-is-the-operational-core-of-tokenization/ Introduction Last summer, I was reviewing a paper on digital spreadsheets and time-space power that had been rejected by a journal and decided a term I used, “substitution,” needed elaboration. It led to my conceptualization, […]
How Developing Countries Will Access US Stablecoins
Citation APA (7th Edition) Pennings, A.J. (2026, Jul 28) How Developing Countries Will Access US Stablecoins. apennings.com https://apennings.com/uncategorized/how-developing-countries-will-access-us-stablecoins/ Introduction This post covers topics that my students and I have been addressing in a course called EST 230 – Information and Communications Technologies (ICT) for Sustainable Development that I have been teaching for the last six […]
The $100 Trillion Question: Treasury-Backed Digital Dollars and a Democratic Political Economy
Citation APA (7th Edition) Pennings, A.J. (2026, Jul 27) The $100 Trillion Question: Treasury-Backed Digital Dollars and a Democratic Political Economy. apennings.com https://apennings.com/global-e-commerce/the-100-trillion-question-treasury-backed-digital-dollars-and-a-democratic-political-economy/ Introduction As the United States national debt accelerates past historical milestones, traditional economic orthodoxy, “goldbugs,” and manipulative politicians continue to issue dire warnings of imminent fiscal insolvency, surging bond yields, and currency […]
Blockchain Significance for US Treasury-Backed Dollar Stablecoins
Treasury-backed USD stablecoins use blockchain technology for creating a shared, tamper-evident, programmable record of ownership and transfer. They deliberately leave the critical function of value stability to off-chain reserves and legal enforceability. The resulting system is robust for many payment and settlement purposes precisely because it does not ask the blockchain to do everything.
Critiques of USAID and the Future Possibilities of Development Aid
The academic critique of USAID therefore points toward a broader transformation in development thinking. Earlier models emphasized allocating resources through centralized organizations. More recent approaches emphasize building infrastructures that allow individuals and markets to coordinate economic activity themselves.
From USAID to Digital USD: The Next Generation of Financial Inclusion
The central thesis is that the future of development lies less in transferring resources through aid agencies than in constructing computational infrastructures that provide secure access to global liquidity.
Literature Review on Global US Dollar Shortages and the Performativity of the USD Standard
Citation APA (7th Edition) Pennings, A.J. (2026, July 02) Literature Review on Global US Dollar Shortages and the Performativity of the USD Standard. apennings.com https://apennings.com/global-e-commerce/literature-review-on-global-usd-shortages-and-the-performativity-of-the-usd-standard/ The limit of a society’s wealth is ultimately determined by the structural limits of its accounting grammar. – ChatGPT [1] Introduction The argument that the global economy suffers from a […]
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About Me
Professor (full) at State University of New York (SUNY) Korea since 2016. Research Professor for Stony Brook University. Moved to Austin, Texas in August 2012 to join the Digital Media Management program at St. Edwards University. Spent the previous decade on the faculty at New York University teaching and researching information systems, digital economics, and global political economy
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anthony.pennings@gmail.com
apennings70@gmail.com
anthony.pennings@sunykorea.ac.kr
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