The End of Influence
At the end of World War II, the United States had all the money-and all the power. Now, America finds itself cash poor, and to a great extent power follows money. InThe End of Influence, renowned economic analysts Stephen S. Cohen and J. Bradford DeLong explore the grave consequences this loss will have for Americars"s place in the world. America, Cohen and DeLong argue, will no longer be the worldrs"s hyperpower. It will no longer wield soft cultural power or dictate a monolithic foreign policy. More damaging, though, is the blow to the worldrs"s ability to innovate economically, financially, and politically. Cohen and DeLong also explore Americanrs"s complicated relationship with China, the misunderstood role of sovereign wealth funds, and the return of state-led capitalism. An essential read for anyone interested in how global economics and finance interact with national policy,The End of Influenceexplains the far-reaching and potentially long-lasting but little-noted consequences of our great fiscal crisis.
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accumulations Alan Greenspan Ameri American Asian assets autos Ben Bernanke billion borrowed Britain capital cash central banks China Chinese commercial companies corporate countries create cultural currency debt defense deficit dollar dollar-denominated domestic dominance Dutch disease earnings economic growth economists European exchange export Federal Reserve financial crisis firms foreign governments France French global hold huge important income increase industrial policy inflation innovation investments investors Japan less manufacturing market outcomes ment military mixed economy modern mortgage neoliberal neoliberal dream neoliberal order North Atlantic ownership Paul Volcker pension fund percent of GDP Peterson Institute political politicians problem production profits regulations renminbi rich role sector shift Silicon Valley social sovereign wealth funds spend successful tion trade trillion U.S. dollars U.S. economy U.S. government U.S. Treasury unemployment unions United workers World War II