Date: Monday, November 21, 2022 7:00 PM - Monday, November 21, 2022 8:30 PM
Location: Temple University, Japan Campus (Access) 1-14-29 Taishido, Setagaya-ku, Tokyo, Japan 154-0004


  • Tag Murphy (A Banker, Educator, and Analyst)


  • Robert Dujarric, ICAS Co-Director


Tag Murphy will discuss the origins and the state of the dollar-based order. The Bretton Woods systems collapsed more than half a century ago during the 1971 "Nixon shocks." Since then, there have been countless predictions of the end of the dollar's reign, based on a belief that others (China, Russia, Iran, etc) could establish a "counter-order," the creation of the euro, the declining percentage of world GDP accounted for by the US, and multiple crises since the early 1970s. Yet, 51 years after Richard Nixon's 15 August 1971 speech, the US dollar is still at the center of the world monetary system. Japan, one of the apparent victims of the Nixon Shocks, has played a critical role in this order. As currency markets are facing a stronger dollar and weaker yen, and a host of other challenges, Tag will discuss causes and consequences of dollar hegemony.

Date & Time:

Monday, November 21, 2022 19:00-20:30


Temple University Japan, Room 301


Registration is required (e-mail to


This event is jointly sponsored by the Institute of Contemporary Asian Studies (ICAS) and the Harvard Club of Japan.

Note: All ICAS events are held in English, open to the public, and admission is free unless otherwise noted.


Tag Murphy

A Banker, Educator, and Analyst

Tag Murphy is a banker, educator, and analyst. He wrote Japan Shackles of the Past (Oxford UP, 2016), co-authored Japan's Policy Trap (Brookings, 2002), and published the Weight of the Yen (W.W. Norton, 1997). He taught at the University of Tsukuba where he helped launch the MBA Program in International Business. Prior to that, Tag was with Chase Manhattan and Goldman Sachs in Tokyo and London. He holds a BA in East Asian Studies and an MBA from Harvard.