Description

The extent and irreversibility of US decline is becoming ever more obvious as America loses war after war and as one industry after another loses its technological edge. Lachmann explains why the United States will not be able to sustain its global dominance. He contrasts America’s relatively brief period of hegemony with the Netherlands’ similarly short primacy and Britain’s far longer era of leadership.

Decline in all those cases was not inevitable and did not respond to global capitalist cycles. Rather, decline is the product of elites’ success in grabbing control of resources and governmental powers. Not only are ordinary people harmed, but also capitalists become increasingly unable to coordinate their interests and adopt policies and make investments necessary to counter economic and geopolitical competitors elsewhere in the world.

Conflicts among elites and challenges by non-elites determine the timing and mould the contours of decline. Lach

FirstClass Passengers on a Sinking Ship

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Paperback by Richard Lachmann

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The extent and irreversibility of US decline is becoming ever more obvious as America loses war after war and as... Read more

    Publisher: Verso Books
    Publication Date: 9/3/2024
    ISBN13: 9781788734080, 978-1788734080
    ISBN10: 1788734084

    Non Fiction , History , Non Fiction

    Description

    The extent and irreversibility of US decline is becoming ever more obvious as America loses war after war and as one industry after another loses its technological edge. Lachmann explains why the United States will not be able to sustain its global dominance. He contrasts America’s relatively brief period of hegemony with the Netherlands’ similarly short primacy and Britain’s far longer era of leadership.

    Decline in all those cases was not inevitable and did not respond to global capitalist cycles. Rather, decline is the product of elites’ success in grabbing control of resources and governmental powers. Not only are ordinary people harmed, but also capitalists become increasingly unable to coordinate their interests and adopt policies and make investments necessary to counter economic and geopolitical competitors elsewhere in the world.

    Conflicts among elites and challenges by non-elites determine the timing and mould the contours of decline. Lach

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