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

3.36  ·  Rating Details ·  108 Ratings  ·  15 Reviews
Now that the US is not the worldOCOs biggest banker, its future as a superpower is looking shaky.
ebook, 176 pages
Published January 5th 2010 by Basic Books (AZ) (first published December 5th 2009)
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Jan 30, 2010 Gregory rated it really liked it  ·  review of another edition

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
Jan 12, 2014 Justin Tapp rated it really liked it  ·  review of another edition
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
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
Feb 02, 2010 Ernie.tedeschi rated it really liked it  ·  review of another edition
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 c ...more
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.
Dec 13, 2009 Drake rated it really liked it  ·  review of another edition
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
Jan 31, 2010 Rob Mentzer rated it really liked it  ·  review of another edition
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.
Jul 23, 2013 ADD rated it really liked it  ·  review of another edition
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.
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
Nov 02, 2011 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.
Jun 09, 2012 David rated it liked it  ·  review of another edition
Nice, short, learned quite a bit about sovereign wealth funds and the symbiotic pathologies of US and China. Three stars is "I liked it"
Dec 09, 2012 Dan rated it it was ok  ·  review of another edition
Shelves: history
"Buzz word! Buzz word! ...vague word! Filler. Filler. Buzz word! Buzz word!"
Serge Boucher
Plenty of interesting stuff in here, but the main point escapes me…
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J. Bradford DeLong is an economic historian who is professor of Economics at the University of California, Berkeley. DeLong served as Deputy Assistant Secretary of the U.S. Department of the Treasury in the Clinton Administration under Lawrence Summers.
More about J. Bradford DeLong...

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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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