Welcome to Balanceofeconomics.com, a blog that Tim Kane and I are launching to share ideas about America, world history, and the concept of economic power. The blog is meant to help us brainstorm as we write a book together that is tentatively titled Balance: Why Great Powers Lose It and How America Can Regain It that will be published by Simon & Schuster in early 2013. Tim and I realized that if we are sharing ideas with one another then we might as well as share them with you. It must be said that what is written here is on our own behalf – individually – and does not represent the ideas of our employers, other associations, or even one another.
We were inspired (book and blog) in no small part by Paul Kennedy’s Rise and Fall of the Great Powers which coincidentally is celebrating its 25th anniversary. Our core theory is the economics is at the heart of great power growth and decline, and secondly that political stagnation leads to economic imbalance. Imbalance happened to Rome. Imbalance happened to Ming China. It is happening to Europe, to Argentina, to Japan, to California, and may be coming to a superpower near you. We’ll explore topics such as power accounting, the role of political institutions, and the lessons history has for the current American institutional model. We will update the blog regularly leading up to and beyond the release of Balance, and hopefully will have shed some light on America’s economic paradox (and learned a thing or two from readers).