Peerless and Periled: The Paradox of American Leadership in the World Economic Order

By Kati Suominen | Go to book overview

6
The Myth of America’s Decline

[O]ur economic power and military might have grown beyond anything that
our forefathers could have imagined. But that power and might can only be
sustained and renewed if we can regain our authority with the world, the
authority not simply of a large and wealthy nation but of the American idea.
If we can live up to that idea, if we can exercise our power wisely and well,
we can make America great again.

US senator and candidate for Democratic Party presidential nominee Hillary
Clinton
, Foreign Affairs, November 2007

THIS BOOK OPENED BY DISCUSSING THE CONTRIBUTIONS of the US-led world economic order—the postwar framework of global governance built on rules-based institutions and free and open markets—to global prosperity in the past six decades. It went on to discuss the challenges to that global economic instability and the divergent demands that the leading economies pose to the American order. It then argued that there are no substitutes for the institutions and ideals of the American order, just as there are no conceivable alternative paradigms for global governance, but also that this peerless order must now be revitalized. The American order made anew is necessary for a world where growth and globalization are accompanied by sustained stability.

This book has proposed that rather than by way of watershed events, stability, just like growth, needs to be pursued with persistence and as a process. Rather than pitting policy makers against market makers, the process needs to align interests. Rather than each nation futilely fending for itself, the common aspiration for growth and stability takes coordination.

Such approaches are difficult, for they are political. While nations share an interest in a thriving world economy, they disagree on the means to that end. National interests, shaped by domestic political economy constraints, clash. Within countries, the preferences of politicians, beholden to

-225-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Peerless and Periled: The Paradox of American Leadership in the World Economic Order
Table of contents

Table of contents

  • Title Page iii
  • Contents vii
  • Acknowledgments ix
  • Preface xi
  • Introduction - Leadership Renewed 1
  • 1 - Rebalancing the World Economy 51
  • 2 - Rescuing the Rescuer What Should a Twenty-First-Century IMF Do? 90
  • 3 - Ruling out Crises—Or Deglobalizing Finance? 131
  • 4 - Endangered Reign? Dollar’s Dilemma 178
  • 5 - Central Banking at a Crossroads 202
  • 6 - The Myth of America’s Decline 225
  • Notes and Index 247
  • Notes 249
  • Index 299
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 312

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.