Well, the dollar system has been working pretty well for several decades. Debt has always been rising in every country, money is debt. What matters is distribution not volume.
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It has not been working well. It has created a bloated, corrupt financial system, it has created the largest debt imbalance in human history. It has systematically stolen from the middle and lower classes at the benefit of the political and counterfeit class. It has funded a century of literal total, never ending war.
The power of a select, privileged group to unilaterally counterfeit money that everyone else is forced to use is the most absurd, corrupting power that society could possibly create. The idea that this is good for anything is beyond ridiculous. It is a horrendous cancer upon society.
But also the dollar nation is the richest in the world. Flawed, a lot, but the dollar has definitley worked for America. It depends on the time period, the 50s and 60s were great for middle class. OR they wouldnt BE middle class.