American Theocracy
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The title of political analyst Phillips’s latest book may overstate his case (in the text, he prefers the term ”theocratic direction”), but his analysis likely will strike chords among those troubled by our current political moment. Phillips (American Dynasty) expounds upon historical parallels for each of his three subjects. In his section on ”Oil and American Supremacy,” for example, he points to Britain’s post-WWI involvement in the Middle East as an analogy to Iraq, and in his section on radicalized religion, he warns of ”the pitfalls of imperial Christian overreach from Rome to Britain.” The five major measures of U.S. debt—from national to household—keep setting records, he observes in his section on ”Borrowed Prosperity,” and the real estate boom spurred by the Federal Reserve, he argues, cannot continue. Phillips identifies the escalating clout of the financial services industry and suggests that Americans should emulate policies in Asia that encourage savings and in Europe that encourage manufacturing.
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