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There's a popular view, childish and wrong - 'the US is just the best. That's why we've become the most powerful economic power in the world. We have capitalism, others have communism or compromised capitalism. Our system, our workers, are just better than theirs.'
Here's a more accurate list of some economic lessons the US can vouch for.
- Taking land by genocide and force works. Not all our land has come that way, but most has - the genocide of the natives, the war on Mexico taking half of their country. That's what has actually worked for us to get land. We did also 'buy' colonized land from France, which indirectly had also been taken by force.
- Slave labor works to build a country's wealth. Whether actual slavery, or low wage labor - including over ten million undocumented people as our hotel staff, meat packers, food gatherers, and many more labor positions, or second-class black workers for a century after the civil war, the US's prosperity has largely come from such 'cheap labor'.
- Economic colonization works. Taking the wealth from other, weaker countries by controlling their governments to give us what they have cheaply has worked. Examples are too numerous to list - from the United Fruit Company in Latin America to copper in Chile to oil from countries like Iran and Venezuela until 1980 and 2000 respectively, see 'Confessions of an Economic Hit Man' for some idea.
For some times after WWII, as much of the world was recovering, the US had a pre-eminent role, developing industries in technology, entertainment, and more that led the world.
But some things we've shown don't work so well. Those include that the US doesn't compete that well on an equal footing, including with more repressive systems with their own cheaper labor.
The US has gone to importing most of its products, and enjoying a 'consumer splurge' as it sees its public and private debt skyrocket to unseen levels, transferring its saved wealth to others and adding a crippling amount of debt we also give them, not investing in our own infrastructure's maintenance much less adding more.
China is poised to surpass the US economically, as it already makes more billionaires than the US, and has strategically chosen to become the world leader in the next century's key technologies, from green energy to quantum computing to global investment in other countries such as those in Africa.
The US has moved from a global leader for democracy to a global example of how it can't keep its own democracy functioning, with massive corruption, propaganda systems, and powerful interests who keep power with voter suppression - not to mention our election of a would-be dictator who was on the side of dictators over democracy, leading to a domestic insurrection and who has still not admitted defeat in an election.
Our current lessons on economics are that our system does not work, as our only power left is military, giving us the choice to be a military tyrant taking from others by force or a greatly weakened power in the world as China and its growing allies grow to lead the world.
And what is behind this weakening? I'd suggest plutocracy has greatly weakened the US, draining over $50 trillion from the American people to be invested in our economy and strengthening the country from investment in industries and education and infrastructure, to instead simply create a group of the monstrously wealthy who use our political system for their own benefit.
But that plutocracy has 'killed the golden goose'.
The American ideal - where the country can be successful and everyone can have a reasonable share of the wealth and democracy can function, something we call 'the American dream' - is something we've shown we can't do, while we have the appearance of doing it somewhat, the context is that we've bought is on massive credit, and a third of our country has essentially become ignorant supporters of fascism.
Our massive debt can work for a while - but we're coming to a time where we can't begin to repay it, and - as intended by some of its initial designers from the Reagan era, in what is called 'starve the beast' - we're moving to the worst of both worlds, where we have austerity just to function, with a weakened economy, currency, and power.
The idea of Americans getting to have luxury in the world, appears unsustainable, even as environmental issues are added to economic ones about how the US needs to reduce its consumption.
Sadly, by our actions rather than our words, the lessons the US is now teaching the world are that authoritarianism and austerity, rather than the 'American dream' of egalitarianism and democracy, are the way of the future. Our words haven't changed, but our situation and what we're showing the world works and what doesn't, becoming a negative example in many ways, has.
Here's a more accurate list of some economic lessons the US can vouch for.
- Taking land by genocide and force works. Not all our land has come that way, but most has - the genocide of the natives, the war on Mexico taking half of their country. That's what has actually worked for us to get land. We did also 'buy' colonized land from France, which indirectly had also been taken by force.
- Slave labor works to build a country's wealth. Whether actual slavery, or low wage labor - including over ten million undocumented people as our hotel staff, meat packers, food gatherers, and many more labor positions, or second-class black workers for a century after the civil war, the US's prosperity has largely come from such 'cheap labor'.
- Economic colonization works. Taking the wealth from other, weaker countries by controlling their governments to give us what they have cheaply has worked. Examples are too numerous to list - from the United Fruit Company in Latin America to copper in Chile to oil from countries like Iran and Venezuela until 1980 and 2000 respectively, see 'Confessions of an Economic Hit Man' for some idea.
For some times after WWII, as much of the world was recovering, the US had a pre-eminent role, developing industries in technology, entertainment, and more that led the world.
But some things we've shown don't work so well. Those include that the US doesn't compete that well on an equal footing, including with more repressive systems with their own cheaper labor.
The US has gone to importing most of its products, and enjoying a 'consumer splurge' as it sees its public and private debt skyrocket to unseen levels, transferring its saved wealth to others and adding a crippling amount of debt we also give them, not investing in our own infrastructure's maintenance much less adding more.
China is poised to surpass the US economically, as it already makes more billionaires than the US, and has strategically chosen to become the world leader in the next century's key technologies, from green energy to quantum computing to global investment in other countries such as those in Africa.
The US has moved from a global leader for democracy to a global example of how it can't keep its own democracy functioning, with massive corruption, propaganda systems, and powerful interests who keep power with voter suppression - not to mention our election of a would-be dictator who was on the side of dictators over democracy, leading to a domestic insurrection and who has still not admitted defeat in an election.
Our current lessons on economics are that our system does not work, as our only power left is military, giving us the choice to be a military tyrant taking from others by force or a greatly weakened power in the world as China and its growing allies grow to lead the world.
And what is behind this weakening? I'd suggest plutocracy has greatly weakened the US, draining over $50 trillion from the American people to be invested in our economy and strengthening the country from investment in industries and education and infrastructure, to instead simply create a group of the monstrously wealthy who use our political system for their own benefit.
But that plutocracy has 'killed the golden goose'.
The American ideal - where the country can be successful and everyone can have a reasonable share of the wealth and democracy can function, something we call 'the American dream' - is something we've shown we can't do, while we have the appearance of doing it somewhat, the context is that we've bought is on massive credit, and a third of our country has essentially become ignorant supporters of fascism.
Our massive debt can work for a while - but we're coming to a time where we can't begin to repay it, and - as intended by some of its initial designers from the Reagan era, in what is called 'starve the beast' - we're moving to the worst of both worlds, where we have austerity just to function, with a weakened economy, currency, and power.
The idea of Americans getting to have luxury in the world, appears unsustainable, even as environmental issues are added to economic ones about how the US needs to reduce its consumption.
Sadly, by our actions rather than our words, the lessons the US is now teaching the world are that authoritarianism and austerity, rather than the 'American dream' of egalitarianism and democracy, are the way of the future. Our words haven't changed, but our situation and what we're showing the world works and what doesn't, becoming a negative example in many ways, has.
