Money

‘The Myth of America’s Decline’

Few ideas challenge conventional wisdom more than one that questions the pervasive notion that America has seen its best days. Whether you voted for Obama or Romney, it’s all but gospel that the U.S. empire is on the skids. And as the high-profile careers of countless doom-and-gloomers confirm, you can have a lucrative career giving the same speech, year after year, about the decline of America.

But as German journalist Josef Joffe points out in his new book, “The Myth of America’s Decline: Politics, Economics, and a Half Century of False Prophecies,” that’s nothing new.

Whether it was launch of the Sputnik satellite in the 1950s; Vietnam in the 1970s; Jimmy Carter’s “malaise” years in the 1970s; Japan as the “Rising Sun” in the 1980s; or terrorism and the Chinese economic juggernaut in the 2000s, the “U.S. in decline” is a never-ending theme for both liberal and conservative thinkers, egged on from the peanut gallery by the largely anti-American foreign media.

Read more about the myth of America’s decline and the country’s latest rival, China, at Eagle Daily Investor.

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