Many critics see international trade as a form of cultural imperialism that must be strictly controlled.

The dreams of "leaving it up to the market" or of returning to a politically neutral gold standard cannot succeed because the nature of the monetary system has a profound impact on the interests of powerful groups and states. Affected groups and states will always try to intervene in the operation of the system to make it serve their interests.

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

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

The parallel existence and mutual interaction of "state" and "market" in the modern world create "political economy"; without both state and market there could be no political economy.

Liberal economists conceive of societies as black boxes connected by exchange rates; as long as exchange rates are correct, what goes on inside the black box is regarded as not very important.

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