The British are supposed to be particularly averse to intellectuals a prejudice closely bound up with their dislike of foreigners. Indeed one important source of this Anglo-Saxon distaste for highbrows and eggheads was the French revolution which was seen as an attempt to reconstruct society on the basis of abstract rational principles.
But because we in the United States finance our current account deficit by borrowing in our own currency we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries.
