Mosler and Catley examine the rise of the United States to the
status of a great power by the beginning of the 20th century, its
maturation as a superpower during the co-dominion of the Cold War,
and its emergence as a hegemonic power after the collapse of the
Soviet Union. As a hegemon it has pursued the globalization of a
liberal world order.
The key institutions and characteristics of the United States
which enable it to become a hegemonic power, are examined as
indicators of its likely behavior as a dominant power in the 21st
century. The evolution of the liberal international political and
economic order pursued by the United States since World War One and
established by the Bretton Woods Conference of 1944 is examined in
the context of the global meltdown of the late 1990s. The role of
the United States in the creation of the system that we now call
globalization is scrutinized and its development into the next
century is anticipated. In their final section, Mosler and Catley
analyze the possible challenges to the United States as a hegemonic
power in the 21st century and the prospects for war and peace and
social and economic development in the new millennium. This is an
important analysis for scholars, researchers, policymakers, and
concerned citizens interested in international relations and
American foreign policy.
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