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The End of Influence: What Happens When Other Countries Have the Money

3.31  ·  Rating Details ·  103 Ratings  ·  15 Reviews
At the end of World War II, the United States had all the money—and 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 America’s place in the world.

America, Cohen and DeLong argue, wi
Hardcover, 176 pages
Published January 5th 2010 by Basic Books (first published December 5th 2009)
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Feb 21, 2010 Gregory rated it really liked it

I read Cohen and DeLong's The End of Influence: What Happens When Other Countries Have the Money (2010), which is a fairly brief but useful primer on how the U.S. became massively indebted and what the effects have been, and likely will be.

The book offers a more optimistic view than its title would suggest. Other countries have the money, but that is not necessarily disastrous because they cannot afford for the U.S. economy to tank. I agree with Matth
Justin Tapp
Jun 13, 2014 Justin Tapp rated it really liked it
Shelves: economics

This book would go well with an undergraduate International Macroeconomics course. DeLong and Cohen explain in plain English the national income accounting identity between the U.S. and China -- what Neil Ferguson called "Chimerica." China saves 40% of its national income, the U.S. saves almost nothing. Since China's Savings > Investment, they run a current account surplus, exporting more than they import and purchasing more foreign assets than foreigners purchase of their assets. Investment
Aaron Arnold
Dec 17, 2013 Aaron Arnold rated it really liked it
I'm glad I read this so soon after Postcards From Tomorrow Square, because the parts that focus on China are a great macro-level companion to Fallows' work, and the rest is an excellent guide to many of the most recent developments in the world financial landscape. I can tell that UC Berkeley professor Brad DeLong wrote the majority of this book by his recognizably light-hearted but extremely erudite style - he's a smart guy who is trying to explain something that is unprecedented in US history, ...more
Mar 26, 2010 Ernie.tedeschi rated it really liked it
A relatively quick, efficiently-written monograph on how the U.S.'s debtor-nation status threatens its standing as the world's unquestioned economic emperor. Unlike other books and articles that try to raise alarm bells about this, Delong is resigned that such a step-down in U.S. influence is both inevitable and won't be devastating provided global financial imbalances are fixed (as he puts it, the U.S. will become a "normal" country, something it hasn't been for quite a long time). I wouldn't ...more
Dec 26, 2013 Mof rated it really liked it
Newest in the latest series of books describing America's decline and prescribing some fixes. Wall Street and the military industrial complex have grown too powerful and must be reigned. But as a world citizen we cannot ignore the possibility that the world might be better off without one hyperpower, no matter how benevolent we think we are.

Disclosure: Delong is my favorite blogger.
Jan 07, 2012 Drake rated it really liked it
Shelves: economics
A good explanation of how America came to have its "exorbitant privilege," as de Gaulle called it, and what happens when we lose it. Well written and very informative.

My only complaints are that it does not have a bibliography, so it is slightly harder to find the sources of the many references, and that is entirely too short.
Rob Mentzer
Mar 06, 2010 Rob Mentzer rated it really liked it
Super-good narrative of recent history of international economics, including how the financial crisis is going to matter going forward. Very readable, very interesting, and you don't have the feeling that it's mainly about scoring political points or pushing an ideological agenda. You will be smarter when you finish it. Really good book.
Sep 16, 2013 ADD rated it really liked it
Shelves: non-fiction
Good, yet pessimistic, view of America's economic power. Concisely written and descriptive chapters on various effects of monetary, fiscal, and (should I say it...yes) industrial policy on the national and global stage. A good primer for international economics.
Jun 06, 2016 Amber rated it really liked it
Short book on how world economy is likely to change due to fallout from "great recession" and ongoing trade deficits, demographics, etc.; enjoyable and easy to read, but not too much I wasn't familiar with already
Jul 21, 2015 Gmm rated it really liked it  ·  review of another edition
Este libro explica de manera sencilla qué consecuencias tiene la posición deudora de los EEUU frente a las economías asiáticas.
Muy recomendable para aquel que quiera entender qué pautas llevarán las relaciones entre EEUU y China.
Aug 15, 2012 David rated it liked it
Nice, short, learned quite a bit about sovereign wealth funds and the symbiotic pathologies of US and China. Three stars is "I liked it"
Mar 26, 2013 Dan rated it it was ok
Shelves: history
"Buzz word! Buzz word! ...vague word! Filler. Filler. Buzz word! Buzz word!"
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“When you have the money- and "you" are a big, economically and culturally vital nation- you get more than just a higher standard of living for your citizens. You get power and influence, and a much-enhanced ability to act out. When the money drains out, you can maintain the edge in living standards of your citizens for a considerable time (as long as others are willing to hold your growing debt and pile interest payments on top). But you lose power, especially the power to ignore others, quite quickly, though hopefully, in quiet, nonconfrontational ways.And you lose influence- the ability to have your wishes, ideas, and folkways willingly accepted, eagerly copied, and absorbed into daily life by others.” 0 likes
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