From The Washington Post:
Declinism is in the air. The latest conventional wisdom is that the combination of the disastrous Iraq war, the military and economic rise of Asia, and the steep recession in the West has chastened America, ending its period of dominance in world affairs. It is time for us to be humble.
There is a lot of truth to this, but it goes too far. For decline itself -- as a concept -- is overrated. Britain's Royal Navy went into relative decline beginning in the 1890s, even as Great Britain remained powerful enough to help save the West in two world wars over the next half-century.
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