Despite Global Chaos, There Are Reasons To Be Thankful

A heated presidential election, unaffordable cost of living and a world filled with regional conflicts—there’s so much to worry about that sometimes we forget to be thankful for the good things we have here in America. Regardless of which side of the political spectrum you are on or how bad you think the U.S. economy is, below is a list of our structural economic advantages.

Firstly, the “exorbitant privilege” of the United States is that the dollar is the world’s principal reserve currency and the most widely used currency in international trade. This means there’s always demand for the dollar, which allows the U.S. to borrow at a low cost. Our interest rates are typically lower than elsewhere for this reason. Our mounting federal debt would have been a much bigger disaster if the dollar wasn’t the reserve currency. 

Secondly, size does matter. Being the world’s largest economy gives the U.S. tremendous power on the global economic stage. The combination of a large population size and high gross domestic product per capita means that U.S. consumers can move global prices and set terms in our favor. If you ever come across people from other countries complaining that everything is catered to Americans, this is the reason. 

Lastly, the U.S. has been home to more talent and innovation than any other country over the past several decades. The Greeks might have invented democracy and the British modern economics, but we invented the internet—which has touched nearly everyone’s life. Americans have built an online economy that allows homegrown talents to flourish. Would Taylor Swift have reached the height of her fame if she had been from another country without starting in the world’s largest recorded music market?

At your Thanksgiving dinner this year, before you go on to argue with your family about political issues or how unaffordable the American dream has become, remember that there are certain dreams only Americans can dream. A little child in Africa can’t dream of running the world’s largest central bank. A little child in the Middle East can’t dream of being the next Taylor Swift. But a child somewhere in America probably has all these dreams every day.