The wheel has now turned full circle. Fukuyama hasn’t exactly become a socialist but what he stated in the October 13 issue of Newsweek in an article entitled The Fall of America, Inc. could well have been written by a firm believer in analyses of Karl Marx. An excerpt: “Globally the United States will not enjoy the hegemonic position it has occupied until now…America’s ability to shape the world through trade pacts and the IMF and World Bank will be diminished, as will (its) financial resources. And in many parts of the world, American ideas, advice and even aid will be less welcome than they are now.”
Are we witnessing the beginning of a new history now that international capitalism is going through arguably its worst-ever crisis? read itall
Economics and Development
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Wednesday, October 22, 2008
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