Short Synopsis
From the bestselling author of Rogue Nation and Three Billion New Capitalists comes a bracing warning of a decisive shift in world power away from the United States—and the deeply troubling threat that we are entering a post-dollar era.

Full Synopsis
Critically acclaimed author Clyde Prestowitz reveals the shocking extent of the deterioration of American economic strength that has put the United States on the brink of irreversibly losing our supremacy on the world stage and our prosperity at home. While the financial crisis has been a devastating blow, he shows that the wreckage of our economic might started much earlier. If we do not make decisive changes fast, he reveals, we will face the daunting challenges of living in a post-dollar world: wielding less and less power over world affairs, vulnerable to rising security threats, and left with a permanently lower standard of living. There is nothing inevitable about this slide, he argues, but fighting back will require recognizing—and reversing—a glaring set of errors made by our business and political leaders due to ideological adherence to deeply flawed doctrines of always-efficient markets and the purely positive effects of globalization.

Providing a masterful history of the rise and decline of the brilliant "American way" of building our prosperity, Prestowitz pinpoints exactly the set of ill-fated steps by which, starting in the 1970s, we turned away from the very strengths that had brought us to world leadership, gutting our capacity to produce truly first-rate, cutting-edge products and going massively into debt. He then lays out the urgent steps we must take to come booming back. The Betrayal of American Prosperity is an indispensable contribution to the urgent debate about the future of the American economy and our role in the world.

"A vivid history of American development and trade policy, a fierce indictment of corporate short-termism and slothful public policy, as abetted by too many economists over the years." ---James K. Galbraith, author of The Predator State

"A vigorous, provocative look at some of the possibilities---few pretty---that lie ahead." ---Kirkus

"Prestowitz is mad and he is not going to take it anymore. He details our national slide towards third-world status with such power that denial becomes no longer an option." ---Andrew Grove, author of Only the Paranoid Survive

New York Times Bestseller