|About the Book|
During the first 65 years of the twentieth century, the United States of America had a carte blanche and was omnipotent. America was the master of the universe, and an indispensable member of the world community. Yankeeism was widely admired, andMoreDuring the first 65 years of the twentieth century, the United States of America had a carte blanche and was omnipotent. America was the master of the universe, and an indispensable member of the world community. Yankeeism was widely admired, and this country was the bulwark during the Cold War with its unrivaled military might. The U.S. was respected for its unyielding pledge for individualism, freedom of speech, equal rights and equal opportunities, religious freedom, “can-do” spirit, pervasive sense of responsibility including a forceful advocate of democracy and a generous benefactor. In commerce, America was celebrated for its entrepreneurial spirit and for being “tinkering geniuses” through the venturing and nurturing of embryonic enterprises. As Edward H. Crane of the Cato Institute stated several years ago, “The essence of America is a respect for the dignity of the individual… the right to life, liberty, and the pursuit of happiness is what America is all about.” Unfortunately, it seems that we are losing our footing. It appears that America is currently following the steps that led to the collapse of the British Empire after World War II--out of control spending, an enormous welfare state, and huge borrowings from overseas. In addition, there is egregious power in Washington, and our public schools are not preparing students for the intense competition resulting from globalization. This is compounded by the frightening moral decay in America, and the ever-increasing external threats from Radical Islam, Communist China and an emerging Russia. Importantly, there are fundamental structures changes taking place in our economy, which can’t be fixed with the usual Washington band-aid approach. Seven million critical middle-class manufacturing jobs have been lost in recent years, and 42,000 factories have closed while China created over ten million such positions at $2 per hour. Further, countless millions of back-office functions have been outsourced to Asia.