Economy and Business > Opinion
Hostility between the ‘two Americas’ has created an existential mindset that has made its constitution, in effect, a barrier to progress
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October 15, 2022 at 05:00
A key sign of a weakening power is the loss in value of its currency. The UK, like ancient Rome, seems to be in that situation. By this criterion, the US is close to an imperial peak. The euro is too fragmented, and China’s yuan too constrained, to threaten the primacy of the ‘dollar king’. Bitcoin is a pyramid scheme. Yet political science tells us that America is more divided than at any time since the eve of its civil war in the 1850s. Could it be defying the laws of historical gravity: a failed state dwarfing its rivals? ?
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