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凯文•菲利普斯（Kevin Phillips）的著作名为Bad Money，全书共有七个章节，总计240页。迄今为止，菲利普斯先生已经写了十三本书，来探讨美国从世界舞台的主导地位到如今的下滑尴尬境地。本书延续了这一主题。这一次菲利普斯主要研究的是美国在财政金融方面的衰退。他将自己的观点集中于三大主要话题，并认为这些就是导致我们全球主导地位下滑的原因所在。

这三大主题分别是：

美国社会的“金融化”，以及我们趋向于利用越来越多的信贷，却无力偿还导致背负更多的债务；

巨大的房地产泡沫所带来的缺陷，未能够成功处理随后的金融危机问题；

美国过于依赖外来石油，给美国经济和作为世界货币的美元带来不少负面影响。

菲利普斯在开篇便介绍了他称之为“金融化”的现象。他分享了这样一个观点：在过去的三十年里（从20世纪80年代起），美国经济越来越依赖金融部门来驱动健康与财富发展。他还印证了例子：20世纪80年代，金融部门对美国GDP的贡献为11%—12%，而到了2005年，就超过20%。

Kevin Phillips's book entitled Bad Money is seven chapters that span 240 pages. To date, Mr. Phillips has written thirteen books where he discusses the decline of America from its dominate place on the world stage. This book continues on this theme. This time Mr. Phillips primarily covers the financial aspects of America's decline. He centers his position around three primary topics in what he believes has led to our continued decline from global prominence.

Those three topics are

The 'financialization' of America and our propensity to acquire more and more credit while racking up more and more debt,

The mega housing bubble and the subsequent failings to effectively deal with and contain the crisis that followed, and

America's continued dependence on foreign oil and the negative affect this has on the American economy and US dollar as a world currency.

Mr. Phillips starts out describing what he calls the 'financialization' of America. He shares that over the past three decades (starting in the 1980s), America's economy has become increasingly dependent upon the financial sector to drive the health and wealth of our economy. Mr. Phillips cites that the financial sector's contribution to America's GDP (Gross Domestic Product) has steadily increased from 11-12 percent in the 1980s to more than 20 percent in 2005 (and 21.4% or more than $3 trillion in 2009 as reported by the US Bureau of Economic Analysis) (Gross-Domestic-Product-by-Industry Accounts). This is about a 95% increase from 1980 until today. However, this has come at a high cost to what Mr. Phillips sees as the foundation of our country, the manufacturing sector. He points out that Manufacturing has experienced a steady decline from 25% in the 1980s to 11% (or about $1.5 trillion) in 2009. The reason he believes this is bad, is because history has shown that other countries whose GDP became dominated by their financial sector eventually fell from global prominence. Phillips draws comparison to the Spanish in the seventeenth century, the Dutch of the eighteenth century and most recently the British after World War I. Mr. Phillips believes we are destined for the same fate.

His basis for this conclusion finds its foundation in the second failing his book highlights. He dedicates an entire chapter entitled, 'Securitization: The Insecurity of It All'. Here he directs blame squarely at the financial sector for this problem. He indicates that this 'problem' took hold after 'tech bubble' of the early 2000s. After this bubble, this housing boom began to grip the本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。