"Never before has a bankrupt nation dared insist that its bankruptcy become the foundation of world economic policy; that, because of its bankruptcy, all the nations what their economies transferring its bankruptcy to themselves, stultifying their industries, and paying tribute to the beggar."
"What the United States did not learn during the 1930s, but is now in the process of learning, is that as borrower instead of lender, in fact as a bankrupt on international account, a strong industrial nation can exercise even greater force in the world of nations than a solvent creditor country can exercise through its overwhelming creditor status."
"Effectively speaking, the United States has compelled the older nations of the West to pay for the overseas costs of the US war in Asia. Whatever they may desire, the central banks of Europe had no choice but to continue to except the paper dollar equivalents annually created as the domestic and overseas deficit of the United States increase. Otherwise, the whole of shaky structure of the world monetary system will collapse into rubble. America has succeeded in forcing other nations to pay for its wars on a systematic basis, something never before accomplished by any nation in history ."--excerpts from the book
"In 1949 the United States held three-Quarters of the world's gold; by 1960 it had become a debtor nation. And yet, the United States has built history's most powerful and affluent empire. Its techniques for world domination remained, at first, the conventional devices of the economic superstate. In recent years, however, the United States has sophisticated its strategy to the point where, although fallen into serious debt, it has retained and even expanded its dominance. The United States has pioneered a new form of imperialism in which the assets of its competitors have been employed for American ends."--from inside dust jacket flap
Author : Michael Hudson
ISBN : 0030859964
Language : English
No of Pages : 304
Edition : 1st
Publication Date : 1/1/1972
Format/Binding : Hardcover
Book dimensions : 9.13x6.57x1.11
Book weight : 0.02
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