The extent and immediacy of America's decline are becoming increasingly apparent as the US loses war after war and industry after industry loses its technological edge. Lachmann explains why the United States will not be able to maintain its global dominance. He contrasts America's relatively short period of hegemony with the likewise short domination of the Netherlands and the much longer era of British leadership. In all these cases, decline was not inevitable and did not compete with global capitalist cycles. Instead, decline is the product of elites' success in controlling resources and governmental powers. Not only are ordinary people harmed, but capitalists also become increasingly unable to coordinate their interests and adopt policies and make investments necessary to confront economic and geopolitical competitors elsewhere in the world. Conflicts among elites and challenges from non-elites determine the timing and shape the characteristics of decline. Lachmann traces the transformation of American politics from an era of elite consensus to today's paralysis combined with neoliberal enrichment, explains the paradox of an American military with unparalleled technological advantage that cannot subdue the weakest foes, and the consequences of the cannibalistic financial economy in the United States.
Manufacturer
- Author
- Richard Lachmann
- Publisher
- Verso Books
- Subtitle
- -
- Number of Pages
- 496
- Release Date
- -
- Publication Date
- 2024
- Dimensions
- 13.9x21 cm
- Language
- English
- Cover
- Soft
- Geopolitical Region
- USA
- ISBN-13
- 9781788734080
Important information
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