The US dollar functions as a network good analogous to Microsoft Windows — while it has flaws and crashes, it maintains dominance because the switching cost to a competing system (even a superior one) is so high that replacement requires a dramatically better alternative that everyone would adopt simultaneously.
definitionpending
Speaker
Louis VangermeerschEvidence Quote
“the US dollar is the Microsoft of uh of of the world um and you can chip away at it but to to replace it uh you need not only to come up with a system that's uh you know better it needs to be much better so that everybody changes it at once [7:52]”
Source
From Wedlock to Deadlock: The East-West Divorce - with Brent Johnson and Louis Gave— In Gold We Trust [EN]Created: 8/12/2026, 6:04:21 PM
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