Prelude to America’s Downfall: The Stagflation of the 1970s

Since the end of Bretton Woods system and stagflation 1970s, transatlantic core, under leadership United States America, has been trying to expand its model free market capitalism embracing every part globe, while addressing domestic overaccumulation crisis. This article follows a historical methodological perspective draws from concept Uneven Combined Development (UCD), which helps us consider structural reasons behind long protracted decline American economic power. In this respect, according UCD concept, there is no global power that can enjoy privilege for being at top capitalist forever in world develops unevenly combined way. Power shifts across new powers come challenge current hegemonic alliance systems. The novelty it locates 1970s considers as consubstantial with state policy neo-liberalism financialisation (supply-side economics). However financialised assemblage lack industrial base producing, reproducing recycling real commodity values. Further, shows attempt remain not successful, least because regime recovery core had rested upon, neo-liberal represents major vulnerability eroding primacy America it.