Subject: Krugman on X, the Dollar, Musk & more
Gift article from NYT:

The Dollar Still Has Its Mojo. X, Not So Much.

https://www.nytimes.com/2024/1...

> By a network I mean a social arrangement held together by what economists call [network externalities] — situations in which people find it convenient to engage in some activity because many other people are doing the same thing. A commonplace example is the long-running dominance of [Excel spreadsheets]; I don’t know anyone who loves Excel, but businesses keep using it largely because everyone else is using it.

> A less mundane example — indeed, one wrapped in a lot of mystical thinking — is the international role of the dollar.