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Once again, regardless of how free the US market was in the mid-20th century, this is not the most unique privilege about the US today, as you put it in your pr
by TeaBrain 1y ago
Once again, regardless of how free the US market was in the mid-20th century, this is not the most unique privilege about the US today, as you put it in your previous comment. Any country could institute the same market regulations and degrees of freedom as the US, but only one country can have the position of having the dominant reserve currency and dominant trade currency.
- WalterBright 1y agoAs countries that have turned to free markets have shown, they enjoy great prosperity from it. The reserve currency thing is irrelevant.
- TeaBrain 1y ago>The reserve currency thing is irrelevant. The little "thing" or status of having reserve currency has allowed the US to enjoy lower international borrowing costs than anywhere else in the world. This has immensely benefited the US, in facilitating ease of borrowing with relatively low interest rates and by facilitating lower exchange rate risk in borrowing than any other nation.