America’s angst, India’s advance warning

“Is America over?,” the headline in last month’s issue of Foreign Affairs, is a provocative phrasing of similar questions raised on talk shows, oped pages, and in US political rhetoric. Authors and speakers have varying interpretations of what “America” means and why it is “over”, but inequality and associated anger are central themes—raising enough commotion so that President Obama declared economic inequality as “the defining issue of our time” in a December speech foreshadowing this year’s presidential race. Mirroring global trends—at least as indicated by the fact that “severe income inequality” emerged from nowhere to hit the top of the World Economic Forum’s list of likely global risks—inequality has hit the primetime.

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