Truest statement of the week III

Taking these four elements together, we begin to see a reasonably clear picture of the economic mechanics of the American empire. Imperial power backstops cheap imports and the ability to run endless budget and trade deficits. Various countries absolutely have been brutally subjugated to protect the profits of American businesses over the years. Others have been trapped in debt peonage by U.S.-backed IMF austerity programs, while the grinding poverty of the Global South effectively protects America’s disproportionate share of world resources.
But here’s the main point: The downsides, even for Americans, are far more numerous. American prosperity—by which I mean the standard of living of typical Americans—in no way depends on this empire, and the broad American public is in no way the major beneficiary of the system it promulgates. Instead, it is run in the interests of a tiny class of business executives, investors, and military contractors. The American people are routinely victimized by the same ruthless bankers and pharmaceutical executives running riot in the Global South.
And this leads to an important political conclusion. It would be very possible to reform the world economic structure to allow poorer countries to build up their prosperity without truly harming the broad American public. Above all, the U.S. economy would have to be become drastically more efficient—which should be possible given technological developments. Carbon- and pollution-spewing coal and natural gas power plants could be replaced with renewables (which are now price-competitive with fossil fuels) and nuclear power. Gas-guzzling SUVs could be replaced with smaller electric cars. Heating and cooling for buildings could be made drastically more efficient with electric heat pumps and improved insulation. And all without sacrificing growth—one model suggests a green U.S. economy could be 158 percent larger by 2050.

-- Ryan Cooper, "The Empire Strikes Out: How American empire is a net drain -- even for Americans." (DEMOCRACY).