If the US fails to recognise and adjust to changing world realities, it is destined to decline in influence, writes Colin Teese.A British Labour MP announced to the parliament that Adam Smith’s invisible hand had found its way into the pockets of the British taxpayer. His quip was a marvellous and timely send-up of deregulationist free market economics.Unreconstructed supporters of neo-liberal economics, of course, continue to pretend nothing has changed. At the opposite end of the politica…
