The opposing tendencies of concentration and spread are of little consequence in the liberal model of political economy.

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

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 core of the Marxist critique of capitalism is that although the individual capitalist is rational (as liberals assume), the capitalist system itself is irrational.

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

The clustering of technological innovation in time and space helps explain both the uneven growth among nations and the rise and decline of hegemonic powers.