I’m from Australia which has been jokingly described as a country full of people serving coffees to each other.

After living in the US for a while, it feels like a country full of people selling loans to each other.

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Unfortunately, the overwhelming majority of economists, politicians, regulators, etc seem to think that the goal of the country is to increase GDP, only quibbling about the Gini coefficient.

The idea that a nation could exist for anything other than material needs is anathema.

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We therefore reject the misleading distinction between developing and developed countries, as if the United States has reached some kind of end-state. On the contrary, economic development is a process that never ends

I wrote something rather similar, though not as eloquent, in the context of human progress: https://www.lianeon.org/p/there-are-no-developed-countries . We need to drop this false dichotomy of "developed vs developing," it does us no good.

You're absolutely right. Despite the doom and gloom fears that many have about the dollar losing its global status, there is a growing chorus of economists who think that, actually, some dedollarization may benefit the US.

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