I recently read this book: The Weary Titan, Britain and the Experience of Relative Decline, 1895-1905 http://press.princeton.edu/titles/9312.html. It is amazing how the debates about the industrial decline of the country, especially relative economic decline (relative to Germany and the USA, both of which erected protective tariffs against British exports, while Britain adhered dogmatically to free trade), is hauntingly familiar to the USA today, faced with unfair competition

You’ve probably read or heard a lot about economic and income inequality recently. The fact is it is a big problem and if it is not adequately addressed, eventually it will lead to a weakening of consumer demand and loss of sales for businesses. This is because as income stagnates for the middle class and the chasm between the very affluent and everyone else widens, in order to maintain consumption levels and keep up with expenses, people will have to borrow more and eventu