This guy fundamentally misunderstands the nature of fiat currency and the essentially destabilizing effect that it has on the global economy. Contrary to what he may think, the boom and bust cycle will always be made worse by having a centrally planned economy. In the face of his passion, it's clear he doesn't want to understand this as why Japan has been stagnant for the last ten years or more; however, the problem is not cultural--it's endemic. It's an okay read if you're a foreign policy/political nerd. However, if you're only willing to read one book on blowback; read "Imperial Hubris" instead.

This is the second book I've read from Chalmers Johnson, and it was definitely another success. Technically, this is part of a trilogy of texts, and I read the second prior to reading this, though the books are not required to be read in any particular order. Taken together, the books paint a picture of a US in danger of losing its way, though by now it is more likely that it has already lost its way. This book shows how the military structure and the defense agenda have divorced themselves from America's interests. Our military goals do no lead to stability in the international system, nor are they truly about protecting the US or its allies. Worse yet, these goals have led us to economic policy that directly weakened our economy and hurt Americans while ensuring that poverty around the world would increase. It's difficult to see how the US can square its stated ideals of freedom, self-determination, and the rule of law with direct support for dictators and autocrats, imposed "one-size-fits-all" economic models, and a rejection of any liability for itself under international legal norms. There should be two main take away points from this reading. The first is that America and its institutions (including the IMF) seem to lack an essential curiosity to understand non-American cultures. The IMF frequently imposes and American inspired economic model on the countries it "helps," yet as Mr. Johnson has noted, the IMF cannot point to even one notable success for its policies. Recently, the IMF itself has noted that its policies are often counterproductive, though it refuses to actually reform them.The second main take away is that America's increasing reliance on military might and ideological purity, as divorced from its own actions, have lessened the credibility of the nation and made it harder for America to maintain its standing. As our citizens fall further behind the industrialized world and, eventually, cede economic superiority to other nations that have invested in their economic infrastructure, America will find itself with fewer allies because of its belligerent stances. Prior to this, the country will have to deal with violent uprisings and political discontent in its satellites. Doing so is costly both in terms of money and it America's image. Our commitment to remaining the "lone superpower" is, in short bankrupting us and insuring our eventual decline.Despite being written prior to 9/11, this book still offers some great insights into America's neo-colonial project.

As I recall, this is the first book I read after the September 11th attacks. It was a good choice. Originally published in 2000, it saw a reprinting not long after I bought my copy--evidently I wasn't the only person impressed with Johnson's appearances on NPR at the time.Essential reading for anyone who doubts that the United States constitutes an imperial power in the world (whether for good, ill, or both).Johnson also makes the strongest case I've yet read for a civilian peacetime draft. The idea of such has filled me with horror all of my life, and yet Johnson just about pushed me onto the fence on the subject.Now my objections to compulsory military service are better-informed, and I can say this--there are advantages to it that our current professionalized force lacks, and we'd be well-advised to address those deficiencies by some means. Or suffer the blowback.