Home and AbroadIssue: Fall 1996
Jeffrey Madrick, The End of Affluence (New York: Random House, 1995).
Robert J. Samuelson, The Good Life and Its Discontents (New York: Times Books, 1995).
Odd though it now appears, less than a decade ago Americans were debating whether the United States was a declining power in world politics. Paul Kennedy's The Rise and Fall of the Great Powers reached the national bestseller list. Geo-economics was alleged to be replacing geopolitics, and Japan was cast ominously as a rising giant. At the time of the Group of Seven Summit in Houston in 1990, some observers portrayed Japan and a reunited Germany as rising superpowers.