The Rise and Fall of an Economic Empire: With Lessons for Aspiring Economies

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Palgrave Macmillan UK, Sep 29, 2010 - Business & Economics - 294 pages
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We have seen many empires come and go. From the Roman Empire to the British Empire, we are now witnessing the decline of the US as a superpower. How do economic innovations foster global economic dominance, and how does the natural evolution of an economic empire eventually bring about its demise and replacement by other economic superpowers?

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Economic empires, like their political or military counterparts, tend to sow the seeds of their own destruction once they’ve reached their peaks. From those lofty heights, arrogance, changing consumption patterns, altered social expectations and, ultimately, a reversion to government to keep the financial engine going, all foretell an inevitable decline. So says Colin Read, an economics professor at the State University of New York, in his ambitious treatise on economic empires. He offers a thorough, if disordered, trip through economic history, while critiquing the problems of global empire. Though his text is challenging in its density and breadth but short on solutions, it is a solid introduction for students of economic history. getAbstract recommends this book mostly for an academic audience who believes that those who ignore history are doomed to repeat it.
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About the author (2010)

COLIN READ is a columnist and the author of a number of books for the academic and popular press on economic issues. He is a Professor of Economics and Finance at the State University of New York, USA. He has worked in Indonesia for the Harvard Institute for International Development, and at the Harvard-MIT Joint Center for Housing Studies. This is his fourth English language book. His previous titles include: Global Financial Meltdown – How We Can Avoid the Next Economic Crisis; The Fear Factor – What Happens When Fear Grips Wall Street and co-edited and co-authored The International Taxation Handbook.