At the end of World War II, the United States had all the moneyand all the power. Now, America finds itself cash poor, and to a great extent power follows money. In The End of Influence, renowned economic analysts Stephen S. Cohen and J. Bradford DeLong explore the grave consequences this loss will have for Americas place in the world. America, Cohen and DeLong argue, will no longer be the worlds hyperpower. It will no longer wield soft cultural power or dictate a monolithic foreign policy. More damaging, though, is the blow to the worlds ability to innovate economically, financially, and politically. Cohen and DeLong also explore Americans 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 Influence explains the far-reaching and potentially long-lasting but little-noted consequences of our great fiscal crisis.
Lucid explanations are offered of trade deficits, currency fluctuations and the like, and the cause of the current crisis located in the ballooning of finance as a proportion of the US economy. There is an occasional enjoyable sardonic aside... and a bracing conclusion for the home audience: the US `will remain a world power and perhaps, the leading nation; it just will no longer be able to be the boss'.
--The Guardian, March 6th 2010
Stephen S. Cohen
Stephen S. Cohen is a Professor of Regional Planning at the University of California at Berkeley, and Co-Director of the Berkeley Roundtable on the International Economy (BRIE). He is an economic consultant for the US Federal Government (all branches) and writes widely for the print media; he has also written a number of academic monographs.
J. Bradford DeLong
James Bradford DeLong commonly known as Brad DeLong is a noted economist at the University of California, Berkeley. He was also an official at the Department of the Treasury in the Clinton Administration. He is co-editor of The Economists' Voice, and author of a bestselling textbook called Macroeconomics. He writes a monthly syndicated op-ed column for Project Syndicate and contributes occasionally to the New Republic. His also writes one of the most widely read economics blogs in the world, Brad DeLong's Semi-Daily Journal.
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