This is a provocative argument about the future of American power now that the US is not the world's biggest banker. At the end of World War II, America had all the money-and all the power. Now, after the Great Crash of 2008, America is cash poor. In "The End of Influence", Berkeley economists Brad DeLong and Stephen Cohen argue that this loss of liquid capital will have grave consequences for America's standing in the world. According to Cohen and DeLong, our current era will be marked by a loss of American power to dictate foreign policy, a loss of American soft cultural power, and a loss of entrepreneurial innovation worldwide. An essential read for business executives and connoisseurs of world politics alike, "The End of Influence" will expose these alarming trends-and tell us what we can do.
January 1, 2010
DeLong, B. J., & Cohen, S. S. (2011). The End of Influence: What Happens When Other Countries Have the Money (First Trade Paper ed). Basic Books.