Economic and Political Disarray in the US: Implications for the Turkish Economy

Dr. Murat ASLAN
02 November 2013
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After World War II, the U.S.A. replaced Great Britain as the global hegemon in the world. The US’s economic supremacy was one of the most important factors in this leadership. American economy expanded during the 1950s and 1960s and this era was called as the golden age of capitalism. However, in the late 1960s and throughout the 1970s American economy started to decline gradually. The combined effects of the Vietnam War, OPEC crises and some other excess burdens over the American economy were early signals of the negative course that has still believed to be in effect.

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