Pax Americana, Debt, and the Problem of Preserving Capital
I am not writing this as a professional macroeconomist. I am writing this as someone trying to understand what happens to ordinary savings inside a debt-based monetary system. The numbers in this article are simplified, but the question behind them is practical: can an ordinary person preserve the fruits of his labor across decades?
Pax Americana — Today’s Framework of Order
History does not move in a straight line, but one pattern appears again and again. Long periods of trade, innovation, institutional development, and economic growth often form around a strong organizing center.
That center has not always looked the same. In the ancient world, it was often built on military power, imperial administration, or religious authority. Later, it will be built around sea routes, trade networks, financial markets, or a dominant currency. The form changed. The function was similar. The center created a framework of order.
It defined the...
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