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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 ...
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 ...
The United States, in particular, has a history of predicting its own downfall, beginning with European settlement. [19] The so-called "American declinism" has been a recurring topic in the politics of the United States since the 1950s. [citation needed] "America is prone to bouts of 'declinism,'" The Economist has noted. [20]
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 ...
The 1990s were the longest period of economic growth in American history up to that point. The collapse of the speculative dot-com bubble, a fall in business outlays and investments, and the September 11th attacks, [73] brought the decade of growth to an end. Despite these major shocks, the recession was brief and shallow. [74] Great Recession
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 book draws on decades of Putnam's research in social capital trends to argue that America is in a similar place now as it was at the turn of the 20th century, when young people in communities ...
At first, the decline in the U.S. economy was the factor that triggered economic downturns in most other countries due to a decline in trade, capital movement, and global business confidence. Then, internal weaknesses or strengths in each country made conditions worse or better.