Sobriety and Its Discontents.

In this article, the author attempts to better understand how the United States can maintain its continued position of international economic superiority even if the U.S. dollar loses its position as the world's dominant currency. The author questions whether Americans can maintain the same levels of consumption, military, social, and stimulus spending while keeping taxes and interest rates low. The article discusses the privileges that were afforded the United States through the position of the U.S. dollar as the reserve currency for the world. The author also speculates about the effect of restrained government spending on class-based politics in the U.S.