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Betrayal of Americanism
The Cause of Financial & Economic Crisis
Joint- capitalism Another Name of Americanism
by Hem Raj Jain
ISBN 13: 978-1-61500-004-3
ISBN 10: 1-61500-004-6
Trade Paperback, size 6 x 9, Pages 150
Genre: Political Science - Political General
Retail Price $11.95 USD
Release October 5, 2010
About the book
The on-going economic crisis of USA triggered by financial crisis of 2007 (though the indications and likely hood of financial crisis emerged
earlier but the full blown financial crisis started in 2007 therefore I have called this crisis as financial crisis 2007) started by sub prime crisis, has
engulfed the entire world in it. Hence it is natural that the best brains (intellectuals) of not only USA but also of the entire world is trying to find
out the solution to these economic crisis. But these well-intentioned people neither have succeeded so far nor are likely to succeed in any future.
This for the simple reason that of late Americanism - which brought not only so much economic and military power to USA but also respect and
love for Americans in the entire world - has been betrayed by Americans and they will not come out of this crisis unless they revert back to
Americanism in spirit and especially in their conduct.
There is a difference between Americans and Americanism.
Americans is sum total of an American, which is simply a legal term and applies to whosoever is the citizen of USA.
Though Americanism has been developed by Americans but Americanism or for that matter any ‘ism’ is the aggregate of the traits, believes and
values of the people who develop this ism to the extent that it becomes so powerful not only in the field of hard power (regarding economical
and martial power) but also in the field of soft power (regarding political power and various ideas and mechanism for realizing human values)
that it can be adopted world over by other people too (non - Americans in this case), wherever and whenever other people consider it worth
emulating. In other words Americanism can be and is being and will be adopted by non-Americans too.
There are other essential elements of Americanism but the essential 24 elements of Americanism - developed and practiced by Americans
during their history- and which are directly connected with financial & economic crisis are given below:-
An ism serves a very important function. It helps its adherents in eliminating from their conduct, the contradictions and inconsistencies vis-à-vis
essential elements of the ism. Hence ism provides security to its essential elements and ingredients thereof.
BETRAYAL OF AMERICANISM -
The cause of Financial and Economic Crisis -
Joint - capitalism Another Name of Americanism -
by Hem Raj Jain
Hem Raj Jain next book events click here for more information
(15)- Individualism with Community feeling
(17)- Rule of Law
(18)- Ideological State
(20)- Town Planning
(21)- Environment protection
(22)- Anti - WMDs
(23)- Human Rights
(24)- Welfare State
(1)- Joint capitalism
(2)- Free spirit
(4)- Right to property
(5)- Spirit of inquiry & Innovation
(6)- Sanctity of contract
(8)- Pre-eminence of labor
(9)- Free competitive market
(11)- Fair play
Author Hem Raj Jain writes candidly about the collapse of the United States financial industry in Betrayal of Americanism: Joint-Capitalism
another Name of Americanism. Jain takes the reader through a series of factors that he believes were the foundation of the 2007 crisis. Jain also
offers solutions; steps that he believes the United States government and its people can take that will pull the country out of its current crises and
on to a stronger economy.
“…Americanism…has been betrayed by Americans…who will not come out of this crisis unless they revert back to Americanism in spirit and
especially in their conduct (p. 6).”
Jain states that Americanism, a collection of values and beliefs about economic and political power as well as human values, is comprised of
twenty-four elements including joint-capitalism, free competitive market, patriotism, democracy, environmental protection, and human rights
One of the primary causes for the financial collapse Jain cites is that America is not aware that its current economy is no longer based on
capitalism, but joint-capitalism. Joint-capitalism is defined as the joint control of the country’s economy by both private capitalism and the
This is a highly opinionated piece. Jain writes not only about the 2007 financial crisis, but also about the American culture. Jain offers his
perspective on the bail outs of the financial industry and what he calls the “fallacy” of sub-prime lending. He also looks at the historically high post-
recession unemployment rate in America and determines that the U.S. Government can turn this around by establishing an “Employment
Guarantee Program (EGP)” which, among other things, could construct homes that senior Americans could rent, thus insuring that they would have
housing during their golden years.
The author is a native and current resident of Rajasthan, India. Three of his four children live in America, hence is interest in the current United
States economy. Jain has experience in engineering, law, politics. Beyond the financial crisis, the author also shares his ideas about illegal
immigration and the United States’ failure to solve this problem; he comments on global nuclear disarmament, universal health care, as well as the
pending erection of the mosque in New York near the site of the 9/11 attacks. To support his arguments, Jain cites both print and online resources
that are collected in the back of the book. According to the author, this book represents a summary of the issues that lead to the 2007 financial
crisis and was written as such so that the book could be published prior to the 2010 elections in the U.S.
Betrayal of Americanism is a forthright look at the economic and social troubles of America from the point-of-view of a member of the global
community. It is a challenging, edgy view of the problems that the U.S. government and its people face with solutions that would require an
adjustment to the collective perspective of the American people to incorporate. Jain’s take on the American culture is very much that of one on the
outside looking in. Some of his suggestions about solving unemployment and housing issues and points he makes on the racial climate and issues of
class in America would be questioned by many Americans with strong beliefs about this country. Perhaps that is the reason a book like this is
important: it ratchets up the debate over the future of the United States and encourages readers to study more diligently the solutions that will lead
America to a higher glory or possibly cause further destruction.
Melissa Brown Levine
Independent Professional Book Reviewers
Interesting. Elements of Americanism well defined. Should have explained all of them in detail though.
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