Like the case with the Roman Empire, the U.S. is in danger of decline due to economic problems. According to the history textbook Ancient Civilizations, by Jackson J. Spielvogel,* Rome had economic problems, which led to “people buying fewer goods,” (476). Also, according to the text, “Artisans produced less, and shopkeepers lost money. Many businesses closed, and the number of workers dropped sharply,” (476). These economic problems, like the decrease in income for shopkeepers and rapid unemployment, greatly weakened Rome’s economy, threatening decline. Another economic problem that contributed to Rome’s potential for decline was inflation. Due to the fragile economy, fewer taxes were being paid. Because of this, the government did not have
…show more content…
Similar to the decline of Rome, the U.S. may be heading toward a decline as well because of economic struggles. According to a CNN Money article, “Consumer spending makes up two-thirds of the nation’s economic engine.” However, …show more content…
According to the bank “Morgan Stanley,” 10% of the U.S. economy is comprised of manufacturing. However, as stated by the same CNN Money article mentioned earlier, “American factories are suffering from the global economic slowdown...The strong dollar is making products manufactured in the U.S. more expensive overseas, lowering demand for American made goods.” This decrease in demand has contributed greatly to the possible decline of our economy; “The key ISM [Institute of Supply Management] manufacturing index has declined for six straight months, and it’s been negative -- below 50% -- for the last two months.”* This data clearly highlights the prospective decline of our economy because its major contributors are plummeting as well. Evidently, Rome’s economic difficulties played key roles in its decline, and a similar trend is beginning to appear in the U.S. Between a decrease in demand for goods, inflation, and a manufacturing recession, both territories struggled economically, which put them in danger of
Similar to the decline of Rome, the U.S. may be heading toward a decline as well because of economic struggles. According to a CNN Money article, “Consumer spending makes up two-thirds of the nation’s economic engine.” However, …show more content…
According to the bank “Morgan Stanley,” 10% of the U.S. economy is comprised of manufacturing. However, as stated by the same CNN Money article mentioned earlier, “American factories are suffering from the global economic slowdown...The strong dollar is making products manufactured in the U.S. more expensive overseas, lowering demand for American made goods.” This decrease in demand has contributed greatly to the possible decline of our economy; “The key ISM [Institute of Supply Management] manufacturing index has declined for six straight months, and it’s been negative -- below 50% -- for the last two months.”* This data clearly highlights the prospective decline of our economy because its major contributors are plummeting as well. Evidently, Rome’s economic difficulties played key roles in its decline, and a similar trend is beginning to appear in the U.S. Between a decrease in demand for goods, inflation, and a manufacturing recession, both territories struggled economically, which put them in danger of