America’s genius lies in its respect for rebellion

2022 has ushered in enormous economic and geopolitical uncertainty. The world is confronting ravaging inflation, an energy crisis, high interest rates and a possible recession. Russia’s invasion of Ukraine has sent international tensions sky-high. And yet, when you sit back and examine it carefully, the country that looks most capable of navigating these murky waters is the United States of America.

As an essay in the Harvard Business Review puts it, “The current reality of the U.S. economy is that highly profitable firms are employing a record number of workers and paying them rising wages.” This is causing some problems as the Federal Reserve tries to slow the economy down, but those strengths are surely of long-term benefit. Americans’ household wealth has skyrocketed because of government pandemic relief programs. American banks are stable — and dominate the world — thanks to the reforms implemented after the 2008 financial crisis. The United States has abundant energy of all kinds, old and new. And, thanks to the dollar, the U.S. government can run up debts with greater ease than any other country in the world.

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