The Economic Decline of the West: Guns, Oil and Oligarchs

This book argues that the West is in economic decline due to three interrelated factors, described as the Guns-Oil-Oligarchy nexus. It explains how the rise of the West as the world’s current hegemon has resulted in an ecological overshoot, the rise of neoliberalism and its slash-and-burn model of continuous growth, extraction, expansion and conquest. With this model pushing against planetary boundaries, threatening ecological disaster, and depleting many resources the Guns-Oil-Oligarchy nexus has deepened its stranglehold on society. This book then dissects the Guns-Oil-Oligarchy nexus. First it describes who the Oligarchs are and how they expand and consolidate their power and influence, and stifle innovation, undermine democracy, hinder responses to climate change, and contribute to militarization and conflict. Secondly, the book explains how Oil has been essential for the economic rise of the West and how it will feature in its decline. Third, the book identifies the rise and influence of the West’s Military-Industrial Complex (MIC) as contributing to the West’s economic decline. It is shown that the MIC constitutes an oligarchy and, like all oligarchies, uses lobbying, campaign contributions, and control of the mainstream media to expand and consolidate power. Silicon Valley’s integration into the MIC is also examined, driven by the search for new profit opportunities as traditional markets become saturated.

This book shows why the Guns-Oil-Oligarchy nexus is a simple explanation for the West’s economic decline, and how its understanding offers a simple solution to avert further economic decline: the oligarchs’ grip must be broken.

Wim Naudé is Visiting Professor at RWTH Aachen University, Fellow at the ASC, University of Leiden, and Distinguished Visiting Professor at the University of Johannesburg.