As the article says, the USD overtook GBP at the end of WW2 as the de facto global reserve currency.
So there is the opportunity for comparison.
How has the UK fared since then?
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Not terribly compared to many countries, but it is a tale of long term economic decline.
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Our public services are in long term decline, tax, gov debt and personal debt is sky high. Heathcare is often poor, and the police cant solve circa 90% of all reported crime. Most well paid working class (middle class in US speak) jobs have long gone, replaced by a minimum wage workplace.
Economic and productivity growth is stagnant.
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The country hasnt gone bust though it nearly did in the 70's!
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It's not all bad, there's a lot less discrimination in the workplace than there used to be; and many other Europeans come to the UK because there are more career opportunities, and workplace/personal culture is more open than most other European countries.
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But the difference is the UK's economic decline took place at a glacial, analogue pace, over decades, and is still ongoing.
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Certainly I agree with other comnents that there's not much chance of the dollar 'failing', and no one should want that either given the destruction this would cause to everyone. However, the long term decline could still happen and things might go a lot faster in the digital age?!
... Not terribly compared to many countries, but it is a tale of long term economic decline.
... Our public services are in long term decline, tax, gov debt and personal debt is sky high. Heathcare is often poor, and the police cant solve circa 90% of all reported crime. Most well paid working class (middle class in US speak) jobs have long gone, replaced by a minimum wage workplace. Economic and productivity growth is stagnant. ... The country hasnt gone bust though it nearly did in the 70's! ... It's not all bad, there's a lot less discrimination in the workplace than there used to be; and many other Europeans come to the UK because there are more career opportunities, and workplace/personal culture is more open than most other European countries. ... But the difference is the UK's economic decline took place at a glacial, analogue pace, over decades, and is still ongoing. ... Certainly I agree with other comnents that there's not much chance of the dollar 'failing', and no one should want that either given the destruction this would cause to everyone. However, the long term decline could still happen and things might go a lot faster in the digital age?!