Globalization and the Decline of American Power

The Political Economy of the American Fall

Cyrus Bina

• Publisher: Routledge
• Year: 2022
• ISBN:
  9781351136761
• Edition: 1
• Topic: Economics
• Subtopic: Economic Theory
• Index: Economics

This book explores America's decline as a global power, arguing that the implosion of Pax Americana was initiated by the process of globalization, preceding the collapse of the Soviet Union by nearly a decade. The era of Pax Americana, and with it American hegemony, is conclusively passed, and will not return in current global conditions.

There is a stark contrast between the present epoch and the postwar era of American hegemony (1945–1979) in which the United States, at least outside of the Soviet sphere of influence, largely managed the international economy and reigned over international politics and relations. Drawing on both theoretical and empirical evidence, this book shows that the era of globalization unleashed forces—social, political, and economic—which broke down the status quo of American hegemony. Author Cyrus Bina also establishes that since the Iranian Revolution (1979), US involvement throughout the Middle East, in Iraq, Afghanistan, Libya, Syria, Yemen, and now notably in Ukraine has been motivated by the freefall of American hegemony and an attempt to get it back by direct or indirect military force. Bina utilizes these contexts for wider analysis and critique of a number of theories commonly used to analyze economy, polity, geopolitical, and dynamics of crisis and social change in capitalism.

This book will be of great interest to students, academics, and policymakers on subjects of Economics, International Relations, Global Studies, International Political Economy, Political Geography, Sociology, and postwar History.

Table of contents

• Cover
• Half Title
• Series
• Title
• Copyright
• Contents
• Notes on Sources
• Acknowledgments
• 1 Introduction: The American World Order Is Passé
• 2 Road to Perdition: The American Debacle in Afghanistan
• 3 Specter of Globalization: The Rise and Fall of the Pax Americana
• 4 Globalization of Oil: Cartel, Cult of Monopoly, and Synthetic Competition
• 5 The Origin and Fabric of Globalization
• 6 Globalization: Identity, Fallacy, and Spurious Temptations
• 7 COVID and Negative Price of Oil
• 8 COVID’s Bio-Economic Crisis and Post-Pandemic World
• 9 Conclusion: The Rise and the Fall of American Power
• Bibliography
• Index