A Nation on Borrowed Time

A Nation On Borrowed Time

The Book

The following is a synopsis of the message contained in A Nation on Borrowed Time. You can also read an Excerpt of Chapter One, as well as Book Reviews.

Synopsis

A Nation on Borrowed Time takes a logical and thoughtful look at the economic decline of America - centered around these key topics.

American Decline How Bad is It?

In the book, the status of many components of today's American experience are assessed. Through readily available statistics on areas of government, the economy, society, and the family, this research reveals a very stark portrait of the depth of problems now facing the United States - problems that were firmly established before the recession that began in 2008, and which are tied directly to the root cause of wealth depletion.

What Went Wrong?

In the period of time from the Great Depression to today, the United States has experienced its highest highs and its lowest lows. Logic would dictate that this period of history provides valuable insights to the origin of our current condition - which it does very clearly! The book chronicles the factors that led to the Great Depression, and how the massive government spending during the New Deal and World War II did not, on its own, end the Depression. It was the resulting unrivalled industrial base that supplied products to the entire world in the 1950s and 1960s that brought unprecedented wealth and prosperity - creating the great consumer economy of the United States.

The unrivalled status of America's industrial base began to erode in the 1970s, as products produced with low-cost foreign labor began entering the U.S. market - first from Japan, and later from other areas of the Pacific Rim. The result was the ongoing closing of American factories, until many industries that once thrived had completely vanished. The deficit in trade of manufactured products meant the exodus of vast amounts of U.S. wealth. Finally, as China emerged as a major supplier of manufactured products to the U.S., the transfer of wealth escalated to an all time high. With few areas for foreign investment in the U.S. appearing viable, there was still the U.S. housing market that had remained vibrant through the Federal Reserve's establishment of historically low interest rates.

The flood of sub-prime mortgages led to an environment of speculation in the housing market, which eventually gave way - with its well reported impact on not just the U.S., but the world as a whole. In truth, the decline of wealth was the root cause. The housing bubble was merely a symptom.

What Can Be Done?

So now, the U.S. government is faced with the task of wading through the aftermath of the troubled economy that remains. Drawing from the game plan used during the 1930s and 1940s, the government has committed massive amounts of money in the form of stimulus funding as was utilized in combating the Depression. This is now having some positive impact on slowing the economic slide from the recession that began in 2008. In view of the concept of the Spending Multiplier, this is understandable. The Spending Multiplier effect suggests that infusing money into an economy translates to an even larger stimulus of demand. But there is a flaw in the long term logic of stimulus funding today. This strategy worked during the 1930s and 1940s only because the U.S. industrial base in the post war era had no substantial global competition. This is not the case in today's world.

A Nation on Borrowed Time examines the value-added wealth generation capability of manufacturing and details why it is critical for national economic health. In the context of current economic challenges, when the stimulus spending runs out, there is currently no strong U.S. industrial base to start the real wealth flowing into America. For this reason, the conclusion of A Nation on Borrowed Time urges the vital need to fortify America's ability to have strong exports of manufactured products to the world market. Without the inflow of wealth from manufactured products, the deficit of wealth depletion will continue - leading to a very unpleasant shift in the standard of living for millions of Americans.

Taking Action

A Nation on Borrowed Time outlines positive measures that can be taken to fortify manufacturing and substantially increase the export of U.S. manufactured products. Most importantly, the U.S. needs to aggressively support the process of capitalism, encouraging entrepreneurial investment in manufacturing, and the introduction of innovative new products for the world market. A key component of this strategy would be tax-based support of the manufacturing-based entrepreneur - while vigorously ensuring that these benefits are not extended to organizations that choose to utilize offshore labor. Notably, this investment by the U.S. government can be done without actually spending money. And through the effects of the Spending Multiplier, the money from these manufacturing ventures would spread money throughout the economy, and would actually add tax-based revenues for federal, state and local governments. In addition, the jobs created by a fortified industrial base would translate to a full range of both production and service jobs - again, creating more demand and a larger tax base.

For the complete message, you are encouraged to purchase a copy of A Nation on Borrowed Time.

Excerpt - Preview the Book

For a preview of A Nation on Borrowed Time, please select this link to Chapter One. (PDF) 145K

Book Reviews

The following are book reviews of A Nation on Borrowed Time.

	“If you are puzzled or troubled by the faltering state of our American experience, read A Nation on Borrowed Time. This book brings to bear Joseph Arvin’s decades of hands-on experience as a high-tech manufacturer in the international marketplace. Offering common sense ways to reclaim America’s prominence and economic health, this book should be required reading for the political leadership entrusted with guiding our nation through a dangerous period.”
	Scot McConachie, Ph.D. - Financial Services Business Owner (Retired)
	“A Nation on Borrowed Time reports on the troubling depth of the economic challenges facing America, while presenting very clear, real world strategies for reversing the decline. Arvin and Newton initiate a discussion on the American economy from a perspective that the economic experts and “talking heads” have failed to acknowledge. Finally, a look at America’s economic problems that isn’t mired in the wringing of hands and finger pointing which does nothing to change the future.”
	Keith E. McKee, Ph.D. - Author, Professor, Illinois Institute of Technology
	“A Nation on Borrowed Time provides a clear, well written narrative on the contributing factors that have led to economic decline in America. The authors also present a refreshing view of how the decline can be reversed through a forward-looking, balanced approach to increasing the productive capacity of the economy.”
	Michael D. Bradley, Ph.D. - Author, Professor of Economics, The George Washington University

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