Liberal economists conceive of societies as black boxes connected by exchange rates; as long as exchange rates are correct, what goes on inside the black box is regarded as not very important.

The economic success of the Reagan Administration was largely dependent upon the pyramiding of massive debt and the siphoning of capital from the rest of the world.

The dreams of "leaving it up to the market" or of returning to a politically neutral gold standard cannot succeed because the nature of the monetary system has a profound impact on the interests of powerful groups and states. Affected groups and states will always try to intervene in the operation of the system to make it serve their interests.

Despite its increased dependence on the international economy, America continues to behave as if it were either a closed economy or the leader whom everyone else should automatically follow.

A prolonged and massive increase in aggregate wealth per capita has taken place over several centuries.

Through exploitation of its influence over global financial affairs, the United States has been able to cover the costs of its hegemonic position, preserve a false domestic prosperity, and mask the consequences of its relative political and economic decline.

The core of the Marxist critique of capitalism is that although the individual capitalist is rational (as liberals assume), the capitalist system itself is irrational.