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This is painfully naive. Simple, obvious contradiction: can every country enjoy the benefits of issuing the de facto reserve currency for the world? Just by ha
by brookst 2y ago
This is painfully naive.
Simple, obvious contradiction: can every country enjoy the benefits of issuing the de facto reserve currency for the world? Just by having free markets?
The US has been incredibly privileged. I’d argue that was earned in some ways and lucky in others. But it’s undeniably true.
- WalterBright 2y ago> The US has been incredibly privileged. Free markets are a choice the US made. Any country can choose to have a free market, and some have. The reserve currency thing has nothing to do with it.
- DavidPiper 2y agoYour position that the country controlling the de facto global reserve currency isn't in a privileged economic position is very hard to understand. What would you say is the economic impact on a country of controlling a global reserve currency?
- southernplaces7 2y agoAnd pray tell, how did it become the de facto global trade currency? You believe the massive development of internal markets, free trade and relatively stable legal system that largely respects private property had little or nothing to do with this?