A prolonged and massive increase in aggregate wealth per capita has taken place over several centuries.

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

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

Through exploitation of its influence over global financial affairs, the United States has been able to cover the costs of its hegemonic position, preserve a false domestic prosperity, and mask the consequences of its relative political and economic decline.

The competitive nation-state system, with all its capacity for good and evil, is spreading in the Third World and is transforming that world.

In many societies the domestic social costs of adjustment to changing patterns of comparative advantage are believed to outweigh the advantages of further trade liberalization.

Specialization makes the welfare of the society vulnerable to the market and to political forces beyond national control.