Kansas Progress Institute

Ad Astra Per Aspera ~ To the Stars Through Difficulties

Is The US’s Current Decline Unprecedented?

Posted on January 26, 2017

By David Burress

The oligarchs are gradually turning the US into a second-rate economy.  Leaving aside the details of how it works, can any one think of an historical analogy?  That is, are there any other cases where the power structure of a leading economy consciously rejected traditional ways of doing things and adopted sweeping economic reforms that then reduced the country to second rate status?

 

Of course Margaret Thatcher was trying for many of the same reforms as our oligarchs, but she did not get far enough to truly wreck the British economy.  Has any group ever followed through with their destructive ideas all the way to the bottom?

 

Communist revolutions are another possible example, but many of them produced economies no worse than what they replaced, in terms of growth and output.  Also the economies they replaced were already second or third rate.  More significantly, the Communists were not trashing an economy they already controlled, while the oligarchs are taking their very own vehicle and running it into the ground.

 

I suppose the Spanish empire was somewhat analogous, though not really.  The Spaniards substantially lived off American gold mines for a century, buying from other countries in place of home production and causing a general European inflation.  However, that system lasted quite while and was more prosperous than what it replaced (though not sustainable).

 

As far as I can see we are witnessing an unprecedented national experiment.  I would not say that the libertarian billionaires are being irrational, because that all depends on their goals.  If you believe as I do that the billionaires above all seek to maximize their relative power and social distance and superiority over everyone else, then they are achieving exactly what they want.

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