Sun, Aug 29, 2021: 10:30 am to 12:30 pm Pacific
Is the US Global Empire Actually in Decline?
It is almost taken for granted, if not an article of faith, in the progressive milieu that the US empire is in decline. Does this hold up or is it comfort food for the frustrated hoping for the revolution? In the 40-year period between 1917 and 1959, socialist revolutions occurred in Russia, China, Korea, Vietnam, eleven countries across Eastern Europe, and Cuba. Yet during this era, thought to be a period of US ascendency, the US had to confront the former world Communist bloc, its associated parties in capitalist countries, and Third World national liberation movements. Now, in the period of alleged US decline, it has been socialist revolution that experiences catastrophic defeats. In the last 30 years, the US and its subordinates have not only blocked successful revolutions but have overturned socialism in most of the former Communist sphere. The socialist revolutions that continue − North Korea, China, Vietnam, Belarus, Laos, and Cuba − have all had to backtrack. China is looming on the horizon, with the US empire unable thwart its rise. Yet the US imperial system still maintains decisive economic, political, and ideological hegemony, backed by tremendous military muscle. If the US were in decline, why have there been no socialist revolutions in almost half a century? What would a world look like if the US lost the ability to be world cop? Our speaker, Stan Smith, will explore these questions based on a manuscript that he and Roger Harris have been researching, followed by a Q&A in which both will participate.
Stan Smith last spoke at the Marxist Library in November on “How the US Dominates the World Economy.” His writings include: Inadequacy of Modern Monetary Theory and the Power of the US Dollar in the World Economy and Why the US Can Keep Increasing its Debt and not Suffer Inflation. Roger Harris on the Library’s program committee.