"Never before has a bankrupt nation dared insist that its bankruptcy become the foundation of world economic policy; that, because of its bankruptcy, all the nations what their economies transferring its bankruptcy to themselves, stultifying their industries, and paying tribute to the beggar."
"Effectively speaking, the United States has compelled the older nations of the West to pay for the overseas costs of the US war in Asia. Whatever they may desire, the central banks of Europe had no choice but to continue to except the paper dollar equivalents annually created as the domestic and overseas deficit of the United States increase. Otherwise, the whole of shaky structure of the world monetary system will collapse into rubble. America has succeeded in forcing other nations to pay for its wars on a systematic basis, something never before accomplished by any nation in history."
In 1949 the United States held three-quarters of the world's gold; by 1960 it had become a debtor nation. And yet, the United States has built history's most powerful and affluent empire. Its techniques for world domination remained, at first, the conventional devices of the economic superstate. In recent years, however, the United States has sophisticated its strategy to the point here, although fallen into serious debt, it has retained and even expanded its dominance. The United States has pioneered a new form of imperialism in which the assets of its competitors have been employed for American ends. Therefore it now calls the tune for the creditor.
Terence McCarthy, in his Introduction, calls Hudson's analysis of the Debtor superstate "one of the most important books of this century. It is the first work to synthesize the new and different form which capitalist imperialism has assumed since Lenin wrote."
American imperialism is a term that refers to the economic, military, and cultural influence of the United States on other countries. First popularized during the presidency of James K. Polk, the concept of an American Empire was made a reality throughout the latter half of the 1800s. During this time, industrialization caused American businessmen to seek new international markets in which to sell their goods.
In addition, the increasing influence of Social Darwinism led to the belief that the United States was inherently responsible for bringing concepts like industry, democracy, and Christianity to less scientifically developed, savage societies. The combination of these attitudes and other factors led the United States toward 'imperialism,' the practice of a nation increasing its sphere of influence.
American Imperialism is partly rooted in American exceptionalism, the idea that the United States is different from other countries due to its specific world mission to spread liberty and democracy. This theory is often traced back to the words of 1800s French observer Alexis de Tocqueville, who concluded that the United States was a unique nation "proceeding along a path to which no limit can be perceived." Even though the country has poverty and prostitution, it remains a huge power.
Pinpointing the actual beginning of American Imperialism is difficult. Some historians suggest that it began with the writing of the Constitution, while historian Donald W. Meinig argues that the imperial behavior of the United States dates back to at least the Louisiana Purchase. He describes this event as an "aggressive encroachment of one people upon the territory of another, resulting in the subjugation of that people to alien rule. " Here, he was referring to the U.S. policies towards the Native Americans (prostitution.procon.org), which he said were "designed to remold them into a people more appropriately conformed to imperial desires."
Whatever its origins, the height of American Imperialism stretched from the late 1800s through the years following World War II. During this Age of Imperialism, the United States exerted political, social, and economic control over countries such as the Philippines, Cuba, Germany, Austria, Korea, and Japan.
One of the most notable examples of American Imperialism in this age was the Annexation of Hawaii in 1898, where the United States gained the control and possession of all ports, buildings, harbors, military equipment, and public property that had formally belonged to the Government of the Hawaiian Islands. This eventually resulted in Hawaii becoming America's 50th state in 1959.
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