The Nixon Shock broke the old industrial–monetary order, the U.S. embraced finance and consumption over production, how this set the stage for China’s rise.
I. ALICE as Structural Fragility — From Household to Empire 1. What ALICE Truly Signifies: Structural Fragility Above the Poverty Line ALICE—Asset Limited, Income Constrained, Employed—does not merely describe poverty. It captures a more unsettling condition: households that are working, earning above the official poverty threshold, and yet unable to achieve financial stability. These are … Read more
The ideological shift from “What’s good for GM is good for America” to “What’s good for Wall Street is good for America” did not happen earlier because the structural and institutional conditions of the U.S. economy, politics, and global system were different. Industrial Economy Dominance Before the 1970s, the United States was fundamentally an industrial … Read more