America's Global Advantage: US Hegemony and International by Carla Norrlof

By Carla Norrlof

For over sixty years the U.S. has been the most important financial system and strongest state on the planet. besides the fact that, there's transforming into hypothesis that this period of hegemony is lower than danger because it faces large exchange deficits, a weaker forex, and stretched army assets. America's international virtue argues that, regardless of those problems, the USA will hold its privileged place. during this unique and critical contribution to a crucial topic in diplomacy, Carla Norrlof demanding situations the present knowledge that different states gain extra from US hegemony than the us itself. by means of interpreting America's structural benefits in alternate, cash, and protection, and the ways that those benefits toughen each other, Norrlof exhibits how and why the USA advantages from being the dominant energy on this planet. opposite to predictions of yankee decline, she argues that American hegemony will undergo for the foreseeable destiny.

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These figures suggest that no single country can challenge the United States’ dominance in the financial field, although, as with world trade shares, we need to consider to what extent the group of countries that now constitutes the euro area is a threat to American hegemony (see chapter 7). Measuring disproportionality While these size measures tell us that the United States still enjoys a considerable lead in the world economy, my claim is also that it benefits disproportionately compared to other states.

Lake and O’Mahony 2004. 17 Olson and Zeckhauser 1966. 19 A careful treatment of how public goods provision relates to strategic interaction is the analytical framework developed by Aggarwal and Dupont. 20 Theirs is a systematic account of how the problem of cooperation changes with variations in resources, benefits and costs. As I will discuss further on, I attempt something similar, although my objective is to expose how sensitive strategic interaction is to both the functional form that determines public good provision and the threat of exclusion.

Decline can be advantageous for the hegemon as long as it retains the number one position in the international system in absolute terms. In some circumstances, a closing of the relative power gap gives the hegemon a greater capacity to distribute gains in its favor as well as a preference for more non-cooperative policies. The evolution of the United States’ hegemonic position Given my goal in this book – which is to show both analytically and empirically that the United States is unique, that its special position is a function of its size, and that this is what allows it to gain more than others, and often more than it contributes to make international cooperation work – I provide statistics that track the United States’ hegemonic position in a twenty-five- to forty-five-year perspective.

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