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Paul Kennedy posits that continued deficit spending, especially on military build-up, is the single most important reason for decline of any great power. The costs of the wars in Iraq and Afghanistan were as of 2017 estimated to run as high as $4.4 trillion, which Kennedy deems a major victory for Osama bin Laden, whose announced goal was to humiliate America by showcasing its casualty ...
A sharp downturn in the American economy was caused by bank failures, lack of confidence in the paper currency, tightening of English Credit, crop failures and Jacksonian policy. [17] Speculation markets were greatly affected when American banks stopped payment in specie (gold and silver coinage). [1] [18] Over 600 banks failed in this period.
Bowling Alone: The Collapse and Revival of American Community is a 2000 nonfiction book by Robert D. Putnam. It was developed from his 1995 essay entitled "Bowling Alone: America's Declining Social Capital". Putnam surveys the decline of social capital in the United States since 1950. He has described the reduction in all the forms of in-person ...
That was after a decline by 1.8 years from 2019 to 2020, producing the worst two-year decline since 1921-23. These figures open a window on a set of pathologies unique to America among developed ...
This alarming trend, which began before COVID, fuels a deadly cycle of a sick workforce and weakened economy.
As Smith notes, the top 20% of the American populace holds roughly 93% of the country's financial wealth, and the top 1% of the country holds approximately 43% of the money in the U.S.
The Defining Moment: The Great Depression and the American Economy in the Twentieth Century (1998). Advanced economic history. Bremer, William W. "Along the American Way: The New Deal's Work Relief Programs for the Unemployed." Journal of American History 62 (December 1975): 636–652 online; Cannadine, David (2007). Mellon: An American Life.
Garrett's most-read work is The People's Pottage, which consists of three essays. "The Revolution Was" portrays the New Deal as a "revolution within the form" that undermined the American republic. "Ex America" charts the decline in America's individualist values from 1900 to 1950.