Six Myths that Hold Back America


Book Description

Why is China booming while the American economy lags? Despite a globally challenging economic environment, production in China has grown by an astounding 7% to 14% a year, every year, for the past 20 years. America’s GDP, by contrast, fell during the serious recession of 2008-9, and is now struggling to achieve even a tepid 3% growth. Why should this be? Over time, economic thought and attitudes in the U.S. and other Western nations increasingly diverged from the underlying views in China, and significant contrasts developed. This book analyzes several key statements of “accepted” economic views in the U.S., to determine which have real basis in the U.S. financial system, and which are really just myths. The six myths: Asian nations are bankrolling the U.S. Treasury issued securities crowd out the private sector If everyone tries to save more, the nation will save more, and investment, GDP, and employment will increase If the government reduces the deficit, then national saving and investment will increase Today’s deficits create great burdens of tax for our childrer If the U.S. does not get its deficit reduced soon, treasuries will face the same problems as Greece and Ireland




Six Myths That Hold Back America


Book Description

Why is China booming while the American economy lags? Despite a globally challenging economic environment, production in China has grown by an astounding 7% to 14% a year, every year, for the past 20 years. America's GDP, by contrast, fell during the serious recession of 2008-9, and is now struggling to achieve even a tepid 3% growth. Why should this be? Over time, economic thought and attitudes in the U.S. and other Western nations increasingly diverged from the underlying views in China, and significant contrasts developed. This book analyzes several key statements of "accepted" economic views in the U.S., to determine which have real basis in the U.S. financial system, and which are really just myths. The six myths: Asian nations are bankrolling the U.S. Treasury issued securities crowd out the private sector If everyone tries to save more, the nation will save more, and investment, GDP, and employment will increase If the government reduces the deficit, then national saving and investment will increase Today's deficits create great burdens of tax for our children If the U.S. does not get its deficit reduced soon, treasuries will face the same problems as Greece and Ireland




Freedom from National Debt


Book Description

America is unjustly worried about "national debt," believing it can no longer do the many things that mark it as a great nation. Discussions of national undertakings including infrastructure repair, jobs programs, military modernization, and disease prevention - have all been stifled through fear of insolvency. America has convinced itself that it can no longer afford, as a nation, to do many of the productive things that it has done so well over its history. That's a great shame, because America remains a nation of tremendous resources in every sense, and the underlying assumptions about U.S. government financial instruments are not correct. America can never face the debt problems of nations like Greece, thanks to its fundamentally different financial system. This short book explains why such fears should not hold back America, and why even the expression "national debt" is neither meaningful nor appropriate for the United States.




Myths America Lives By


Book Description

Six myths lie at the heart of the American experience. Taken as aspirational, four of those myths remind us of our noblest ideals, challenging us to realize our nation's promise while galvanizing the sense of hope and unity we need to reach our goals. Misused, these myths allow for illusions of innocence that fly in the face of white supremacy, the primal American myth that stands at the heart of all the others.




The Great American Delusion


Book Description

Something has been going badly wrong in America. But what is really happening, why, and what does it mean? Could the US itself now be the greatest threat to the future of the West? What does Joe Biden need to do to get America back on track? In this fascinating account of America today, Patrick Davies, former British Deputy Ambassador to the US, sets out to understand how America, blinded by myths of its own exceptionalism, has failed to tackle serious political, social and economic problems which are exacerbating divisions in its society, poisoning its politics and ultimately fuelling America’s decline. The Great American Delusion asks whether, with global power shifting eastwards, the US can save itself and, with it, the Western world before it’s too late. Patrick Davies worked alongside the Obama and Trump White Houses for five years. He has more than 30 years’ experience of America, its people and its politics.




Not So!


Book Description

This study explores a number of myths and misconceptions about the American past. The book covers events throughout American history, from whether Columbus knew the world was round when he went off to discover America, to contemporary media attacks of the presidency.




Six Myths that Hold Back America


Book Description

Why is China booming while the American economy lags? Despite a globally challenging economic environment, production in China has grown by an astounding 7% to 14% a year, every year, for the past 20 years. America's GDP, by contrast, fell during the serious recession of 2008-9, and is now struggling to achieve even a tepid 3% growth. Why should this be? Over time, economic thought and attitudes in the U.S. and other Western nations increasingly diverged from the underlying views in China, and significant contrasts developed. This book analyzes several key statements of "accepted" economic views in the U.S., to determine which have real basis in the U.S. financial system, and which are really just myths. The six myths: Asian nations are bankrolling the U.S. Treasury issued securities crowd out the private sector If everyone tries to save more, the nation will save more, and investment, GDP, and employment will increase If the government reduces the deficit, then national saving and investment will increase Today's deficits create great burdens of tax for our childrer If the U.S. does not get its deficit reduced soon, treasuries will face the same problems as Greece and Ireland.




The Myth of America's Decline: Politics, Economics, and a Half Century of False Prophecies


Book Description

"While it may be catnip for the media to play up America as a has-been, Josef Joffe, a ... German commentator and Stanford University academic, [proposes] that Declinism is not a cold-eyed diagnosis but a device in the style of the ancient prophets ... Gloom is a prophecy that must be believed so that it will turn out wrong. Joffe [posits that] 'economic miracles' that propelled the rising tide of challengers flounder against their own limits. Hardly confined to Europe alone, Declinism has also been an especially nifty career builder for American politicians, among them Kennedy, Nixon, and Reagan, who all rode into the White House by hawking 'the end is near'"--Dust jacket flap.




The Myth of American Religious Freedom


Book Description

In the battles over religion and politics in America, both liberals and conservatives often appeal to history. Liberals claim that the Founders separated church and state. But for much of American history, David Sehat writes, Protestant Christianity was intimately intertwined with the state. Yet the past was not the Christian utopia that conservatives imagine either. Instead, a Protestant moral establishment prevailed, using government power to punish free thinkers and religious dissidents. In The Myth of American Religious Freedom, Sehat provides an eye-opening history of religion in public life, overturning our most cherished myths. Originally, the First Amendment applied only to the federal government, which had limited authority. The Protestant moral establishment ruled on the state level. Using moral laws to uphold religious power, religious partisans enforced a moral and religious orthodoxy against Catholics, Jews, Mormons, agnostics, and others. Not until 1940 did the U.S. Supreme Court extend the First Amendment to the states. As the Supreme Court began to dismantle the connections between religion and government, Sehat argues, religious conservatives mobilized to maintain their power and began the culture wars of the last fifty years. To trace the rise and fall of this Protestant establishment, Sehat focuses on a series of dissenters--abolitionist William Lloyd Garrison, suffragist Elizabeth Cady Stanton, socialist Eugene V. Debs, and many others. Shattering myths held by both the left and right, David Sehat forces us to rethink some of our most deeply held beliefs. By showing the bad history used on both sides, he denies partisans a safe refuge with the Founders.




US-China Relations in the Twenty-First Century


Book Description

The relationship between the United States and China will be of critical importance to the world throughout the twenty-first century. In the West China’s rise is often portrayed as a threat and China seen in negative terms. This book explores the dynamics of this crucial relationship. It looks in particular at what causes an international relationship to be perceived negatively, and considers what can be done to reverse this, arguing that trust is a key factor. It goes on to discuss US and Chinese rhetoric and behaviour in three key areas – climate change, finance, and international security. The book contends that, contrary to much US rhetoric, China’s actions in these areas is often much more flexible and accommodating than the US position, and that the Chinese are much more knowledgeable about, and understanding and appreciative of, the United States than vice versa.