The historical record suggests that the transition to to a new hegemon has always been attended by what I have elsewhere called hegemonic war.

Among the many factors that make a return to halcyon days of the first decades of the postwar era virtually impossible is the decline of clearly defined political leadership.

The multinational corporation and international production reflect a world in which capital and technology have become increasingly mobile, while labor has remained relatively immobile.

These two opposed forms of social organization, the modern state and the market, have evolved together through recent centuries, and their mutual interactions have become increasingly crucial to the character and dynamics of international relations in our world.

The historical record suggests that the transition to to a new hegemon has always been attended by what I have elsewhere called hegemonic war.

A market is not politically neutral; its existence creates economic power which one actor can use against another.

In short, the elimination of the financial legacy of Reaganomics could force the United States to make some exceptionally difficult choices indeed.