Saturday, July 12, 2014

A Mention of Paul Kennedy's The Rise and Fall of the Great Powers: Economic Change and Military Conflict From 1500 to 2000

On The Oil Drum:

"An interesting perspective on Great Power decline can be found in Paul Kennedy's The Rise and Fall of the Great Powers: Economic Change and Military Conflict From 1500 to 2000.

The key attributes of Great Power decline identified by Kennedy were Great Power overinvestment in militarism in place of more productive investments such as healthcare, or better education. The outcome of this choice was increasing fiscal incapacity which undermined all potentials of the militaristic state. This series of events is, of course, independent of PO."


eah said...

I guess back in those days unfavorable demographic population change was something that only happened if you lost a war.

theyenguy said...

The US is no longer a Global Hegemon.

The US Fed's massive purchases of bonds of all types has served to underwrite the US Dollar Hegemonic Empire, and cause a fantastic Global Credit Bubble, which finally burst on July 1, 2014, as the Bond Vigilantes began calling the Interest Rate on the US Ten Year Note, ^TNX, higher from 2.49%.

In the new normal Mario Draghi economy of shared sovereignty, and the new normal Jean Claude Juncker economy of negotiated government, the call of liberals for income redistribution will not be met, as the mandates of these two Eurozone Titans and their soon to be appointed regional fascist leaders, will establish increasing austerity for all of the EU’s citizens; these will be replacement for the World Central Bank economy’s Asset Manager tycoons.

The Eurozone will serve as the headquarters, and template, for the development of the Beast Regime of regional economic governance and totalitarian collectivism, which is synonymous with the Ten Toed Kingdom, which is replacing the US Dollar Hegemonic Empire, and the British Empire, now that the 30 Year US Government Bonds, EDV, and the US Ten Year Notes, TLT, are trading lower on the Bond Vigilante’s Call of the Benchmark Interest Rate, $TNX, higher from 2.49% to 2.56%. Economic Collapse Blog posts The Dollar Is In Peril As Global The De-Dollarization Trend Accelerates. And Larry Summers posts The United States’ Global Leadership Has Eroded.

Peter Koenig writes in Global Research Russia’s Petro-Ruble Challenges US Dollar Hegemony As China Seeks Development of Eurasian Trade.