ABSTRACT
This chapter presents a concise historical analysis of the US economy, spanning from the end of the Golden Age to the crisis of neoliberalism. As a hegemonic country, the United States has played a leading role in the capitalist transformations, particularly after World War II, functioning as a source of technical and institutional innovations, which often diffuse to other nations. It is organized in three sections. The first scrutinizes the crisis of the Golden Age, the advent of neoliberalism, and its subsequent crisis, addressing key events in the US economy over the last five decades. It provides the historical background necessary for a better understanding of the changes in follower countries worldwide. The second section investigates the intricate relationship between technical change and income distribution, displaying an interpretation of the reduced growth in labor productivity in the United States. The third section considers the relationship between profitability, capital accumulation, and the evolving institutional landscape in the United States. It offers an insightful interpretation of the diminished economic growth witnessed in the country during neoliberalism. The last section explores the contradictions between hegemony and neoliberalism and considers the prospects of the United States preserving its global leadership role in the future.
