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Drawing on over four decades of research and writing on the political economy of the UK and United States, David Coates offers a masterly account of the Anglo-American condition and the social and economic crisis besetting both countries. Charting the rise and fall of the social settlements that have shaped and defined the postwar years, Coates traces the history of the two economies through first their New Deal and then their Reaganite periods - ones labelled differently in the UK, but similarly marked by the development first of a Keynesian welfare state and then a Thatcherite neoliberal one.

Introduction / David Coates -- The political economy of an anti-rent-seeking equality agenda / Dean Baker -- Towards a new paradigm for the Left in the United States / Fred Block -- Trawling the past as a guide to the future / David Coates -- A new politics from the Left: the distinctive experience of Jeremy Corbyn as leader of the British Labour Party / Hilary Wainwright -- Social democracy in a dangerous world / Colin Crouch -- Whose side are we on? Liberalism and socialism are not the same / Wolfgang Streeck -- Class, party and the challenge of state transformation / Leo Panitch and Sam Gindin -- Closing thoughts / Matthew Watson.

"America is in trouble at home. Difficulties abound: unemployment and poverty for many, financial pressure for most, opulence for just a privileged few. Yet America is also active abroad, in a role that is equally troubling and difficult. The book explores the relationship between problems at home and challenges abroad, to see if by reducing the latter we can improve the former.. It does so by examining the fate of economies and societies that have also briefly enjoyed global dominance. The premise of the book is that, by looking back at what went wrong for them, we might go forward avoiding similar mistakes. The empires that preceded us - and left the greatest imprint upon us - are the ones chosen for particular attention here: the empires of Rome, Spain, Britain and Russia (both Tsarist and Soviet). They ultimately fell. Must America follow suit, or can we learn from their mistakes how best to avoid our own?"--

"America is in trouble at home. Difficulties abound: unemployment and poverty for many, financial pressure for most, opulence for just a privileged few. Yet America is also active abroad, in a role that is equally troubling and difficult. The book explores the relationship between problems at home and challenges abroad, to see if by reducing the latter we can improve the former. It does so by examining the fate of economies and societies that have also briefly enjoyed global dominance. The premise of the book is that, by looking back at what went wrong for them, we might go forward avoiding similar mistakes. The empires that preceded us - and left the greatest imprint upon us - are the ones chosen for particular attention here: the empires of Rome, Spain, Britain and Russia (both Tsarist and Soviet). They ultimately fell. Must America follow suit, or can we learn from their mistakes how best to avoid our own?"--

The financial meltdown and the Obama response -- Making the case for regulated markets -- Making the case for managed trade -- Making the case for a green economy -- Making the case for a reform of the American model -- The politics of winning -- Appendix 1: The causes of the meltdown : An update on the debate -- Appendix 2: The economics in play.

Intro -- Contents -- Acknowledgments -- Chapter 1. A Call to Arms -- Chapter 2. Clearing the Decks -- Chapter 3. The Wonders of "Trickle-Down Economics -- Chapter 4. Cutting "Welfare" to Help the Poor -- Chapter 5. Reforming Social Security -- Chapter 6. Bringing Health to the Health Care System -- Chapter 7. Immigration Control in a Land of Immigrants -- Chapter 8. Is God Necessarily Conservative? -- Chapter 9. The Wisdom of the War in Iraq -- Chapter 10. Is Prosperity Safest in Republican Hands? -- Chapter 11. Steps to a Better Future -- Notes -- Selected Bibliography -- Index.

The Labour landslide of 1997 and the excitement that accompanied the dawning of a new era in British politics are largely forgotten and overshadowed by the reality of two terms in office, but what has Labour achieved since its historic election victory? David Coates offers a balanced assessment of New Labour's domestic record and interrogates the problems that it inherited and the progress that the Party has made in tackling Britain's social and economic problems