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Thursday, March 29, 2012

American Austerity? It'll Never Happen

"From its founding, Americans have been convinced that their nation is exempt from those constraints of class and history that have bound the rest of the world.  This autonomy provided the chance to build an economy and a democratic system of governance based on unconstrained opportunity in a liberal marketplace, putting the United States on a never-ending path of growth.  This vision was reinforced by the postwar economic boom from 1945 to 1973, with circumstances favoring the victorious United States over its depleted allies and defeated adversaries.


"In past crises the American people have proved relatively adept at translating the forces of lethal competition into political combat rather than violence.  As the country once again stands on the brink, whether we can continue down that path is an open question."

The Age of Austerity by Thomas Byrne Edsall

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