Emmanuel Todd makes a very prescient metaphor about some older critics of American empire whom he says are like "broken clocks." Their perception of American power has not changed with the passage of time and changing of circumstance. Despite this, like frozen timepieces, they still manage to be right twice a day. Although they are driven by a genuine sense of moral outrage, the familiarity of their arguments tends to undercut their force at times. And some other times they just get it wrong.
This book represents a very different type of criticism of the United States. Written in 2002, before the Iraq War, and before a raft of trendy critiques of the United States began arriving, Todd predicted the imperial overreach and decay that we have since come to witness. An anthropologist, he looks at demographic trends (specifically literacy rates and birth rates) and makes the point that power and development is shifting to Eurasia. While many peoples are presently going through the stage of violent "deracination" that seems to accompany mass literacy, this is a phase that will pass. Declining birthrates around the world also testify to the improving status of women. In sum, the rest of the world is catching up in its own haphazard way.
America occupies a unique place in the world. It is ostensibly a superpower, yet it does not produce anything that the world particularly needs. It doesn't produce anything at all really. The U.S. is unique in the world in running up massive trade deficits year after year, consuming the excess demand of the world's producers and in turn stimulating the economy. The U.S. is the world's Keynesian state. Or to put it as evocatively as Todd as, it is the "world's Pyramid," without which the industrial powers would have not have a place to profit on their wares. America's bottomless consumption is what it offers to the world. In this light, Bush's famous exhortation to Americans to "go shopping" is not merely a call to get on with daily life, but to continue fulfilling America's role in the imperial order. Namely, it is the unproductive metropole, living off the production of the periphery.
Despite the deficits the U.S. dollar, miraculously enough, does not drop. This is because what is lost in trade is made up for in huge capital inflows from around the world. People ship their money to the U.S. in an arrangement we would've once called "tribute," but which is now done voluntarily and in a liberal manner by the rich and powerful from the rest of the globe. The mechanism for this is American financial markets, which are perceived to be secure and thus offer a place for those with means to store their financial assets; usually in safe investments such as conservative stocks, bonds and treasury bills. In this way America's consumption is paid for by the people of the world. In a stunning statistic cited here, it takes over $1Bn of inflow per day to keep America's trade deficit sustainable. And that was in 2002.
There are other very fascinating observations here that draw on Todd's anthropological background. The difference in cultures and political forms is a result of the different family structures of peasant groups, Todd contends. For example German peasants had hierarchal families that chose a single male heir to exclusion of others; a form that eventually allowed Nazism by normalizing a hierarchy among peoples. Communitarian family structures in Russia and China led another way, whereas the alleged favoritism among brothers in Arab families, to the exclusion of fathers, led to a congenital lack of respect for state authority. A non-anthropologist has little means by which to evaluate these claims but nonetheless many of them gave food for thought. The demographic trends of intermarriage among whites and Asians (growing) and among Whites and Blacks and Latinos (nonexistent or stagnant) as a marker of racial integration was also enlightening.
Given when this book was written, its kind of amazing how much Todd got right. Its almost as though later American leaders went out of their way to bring his dire predictions to fruition. He points out America's apparent need to keep low-level conflicts going on around the world, but only in places where the enemy is weak a spectacle can be made out of defeating them. The American military (its ground forces at least) are weak; slow and unwilling to take casualties. As such they only attack weak nations like Iraq and Vietnam, and even then they are unable to achieve their goals. The purpose of this constant belligerence is to show that America still has some kind of unique place or mission in the world; a violent spectacle that technically is meant to showcase its continued exceptionalism. However the repeated failures of such attempts, as well as the massive devastation they have wrought particularly in the Middle East, has deeply harmed the United States and its allies. Europe has a need to have tranquility in the Middle East, it can't afford to keep low-level conflicts like Israel/Palestine festering the way America has.
Todd doesn't get everything right. He predicts a move away from the U.S. on the part of Europe and a consolidation. Until recently that seemed perhaps possible, but Europe itself is now buckling under its own pressures. Russia is arising as less of an ally and more of a threat. And Todd fails to predict the rise of China, at least not in the correct timeframe. Nonetheless, this is really an exceptional work of political forecasting. Its an education, and it is not like the tired and predictable anti-American books out there. This is a work of genuine scholarship that belongs among the likes of Fukuyama and Brzezinski.
After finishing, I spent some time looking at the U.S. Balance of Trade in the years since the book's publication. With the exception of a latent growth in U.S. service sector exports, a murky and less "solid" industry in many ways, the trends he cites here have only continued to grow. How much longer this uniquely unstable economic arrangement can keep going becomes a bigger question with every passing year. Income inequality caused by sacrificing industrial production in favor of finance capital inflows is in turn creating a population of angry and unemployed living underneath a globalized, cosmopolitan elite, a group which Todd notes benefits from "educational stratification" as its own form of class difference.
The domestic instability now wracking the Western world order as a result of this arrangement suggests that real change is necessary now, before the breaking point is reached.