American Political Polarization and the Rise of Trump

Abstract

This chapter will change pace and build upon the earlier chapters by examining the response to the recession and the political polarization in the USA. I will provide an account of America’s government structure and political culture. I will also discuss how its foreign policy has been motivated by both geopolitical threats and the interests of corporations and financial institutions. Global finance has shown throughout the global economy that it has the ability to condition the response of countries, punishing those that act contrary to the demands of investors. While it is too soon to see the long-term economic ramifications of the Great Recession on the USA, this crisis does show that America is under many constraints and suffers limitations due to its political system. America can benefit from the development international capitalism, particularly in the financialization of the system, but it can also be punished by financial markets. But in an environment of global economic instability, the American political system has proven to be unable to contend with periodic crisis. This chapter will discuss the American government’s haphazard response to the financial crisis of 2008, as well as discuss the polarization of the American political system on important issues like the budget and debt ceiling, which are central to the USA maintaining its position as an empire in the global capitalist system.