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Letters: January 2013

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By Prospect   January 2013

America rising

Bill Emmott may well be right about Obama’s second term, and I hope he is (The American century is not over, December), but the real issue is long term. Just look at Britain’s own story. 200 years ago, it was the world’s only industrial economy and greatest power, but its free markets spread industrialisation (especially to America). The US then had its own industrial revolution and by 100 years ago it was catching up with Britain. America took over as the great promoter of free markets, which spread industrialisation further (especially to east Asia). Following the same…

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