alt Hacker NewsThe reign of the dollar, at least as the world's reserve currency has distorted the US economy since the collapse of the Bretton Woods system.
We would live in a very different world if the Bancor existed. Instead we got all the things a dollar-denominated system of international trade predicted: the export of industry and the political unrest that followed a status demotion in practically all of middle America.
In the grand scheme of labor vs capital, the dollar reserve has been a heavy foot on the scale in favor of capital.
I realize there's a lot out there on the subject, but do you have any specific reading recommendations summarizing the effect of the US dollar's reserve currency status on middle America? It's a history I've been interested in learning.