Bye, Bye Miss American Pie: Steep Decline of US Imperialism

This is a terrific blog piece by Michael Roberts on the decline of US imperialism. As it turns out, in spite of the fall of the Soviet Union, the US rate of profit continued its 40 year decline. The decision to go off the gold standard in 1971 was crucial in speeding up the decline. As it stands now, profits made internationally on the use of the currency of the dollar are also in decline as the Chinese yuan competes with it.


Leave a Reply

Your email address will not be published. Required fields are marked *