{"id":27763,"date":"2017-11-08T19:53:41","date_gmt":"2017-11-09T00:53:41","guid":{"rendered":"http:\/\/olduvai.ca\/?p=27763"},"modified":"2017-11-08T19:53:41","modified_gmt":"2017-11-09T00:53:41","slug":"why-so-many-in-the-west-are-pissed-off","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=27763","title":{"rendered":"Why So Many (in the West) Are Pissed Off"},"content":{"rendered":"<h3><a href=\"https:\/\/www.businesscycle.com\/ecri-news-events\/news-details\/economic-cycle-research-ecri-lakshman-achuthan-why-so-many-in-the-west-are-angry\">Why So Many (in the West) Are Pissed Off<\/a><\/h3>\n<div class=\"news_body\">\n<p>Campaigning to \u201cMake America Great Again,\u201d Donald Trump swept to the presidency last November 8, buoyed by a wave of anger and sense of betrayal in the American heartland. He knew that, for many, the American Dream had receded inexorably beyond reach, lingering only in distant memories. Critically, American parents no longer expect what had been virtually guaranteed in the mid-20th century \u2013 that our children would be better off than we are.<\/p>\n<p>It isn\u2019t just less-educated middle-aged White Americans who believe that American greatness will be restored by pushing back hard against the \u201cother,\u201d including China, India, and immigrants who don\u2019t look like them. A much larger part of America seems open to the simple notion that what ails us is someone else\u2019s fault. This is because hardly anyone on the right or the left realizes just how fleeting the dominance of the West \u2013 and the U.S. in particular \u2013 has been in the longer sweep of human history.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/ecri-prod.s3.amazonaws.com\/downloads\/171108_Bl_OpEd_W495_Ch1.gif\" \/><\/p>\n<p>Few appreciate the uncomfortable fact that, while China and India have advanced rapidly in recent decades, even this is only a partial reversal back to the historical norm. A two-millennium perspective \u2013 derived primarily from the lifework of <a href=\"http:\/\/www.ggdc.net\/Maddison\/content.shtml\" target=\"_blank\" rel=\"noopener\">Angus Maddison<\/a> \u2013 shows that, for more than 90% of the time, China and India dominated the world economy, together accounting for about half or more of global GDP in terms of real purchasing power (Chart 1).<\/p>\n<p>In year 1, India\u2019s share was nearly a third of global GDP and China\u2019s was over a quarter \u2013 both bigger than the Roman Empire\u2019s. Rome had a huge trade deficit with China, whose silk was worth about its weight in gold.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Why So Many (in the West) Are Pissed Off Campaigning to \u201cMake America Great Again,\u201d Donald Trump swept to the presidency last November 8, buoyed by a wave of anger and sense of betrayal in the American heartland. He knew that, for many, the American Dream had receded inexorably beyond reach, lingering only in distant [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,16932,16931,353,422,827,965,2257],"class_list":["post-27763","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-economic-cycle-research-institute","tag-ecri","tag-gdp","tag-india","tag-united-states","tag-west","tag-world-gdp"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27763"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27763\/revisions"}],"predecessor-version":[{"id":27764,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27763\/revisions\/27764"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}