US hegemony has not declined, as some think it has looking at the chaos of the world around it. Arguement is that it's the misuse of the structural power (undiminished) of the US hegemony that has caused the problems.
Structural Power: (as opposed to relational power, getting another country to do what you want) the ability of a country to determine the way in which certain basic social needs are provided.
Four societal needs for modern world economy: security knowledge production credit.
Production: the kind of purely polictical command (socialist) is shrinking; Entirely market-signalled (some basic food markets) is shrinking; geared towards national markets (governments can adjust with policies); transnational corporations (TNGs). Any TNGs have a significant interest in not pissing off Washington b/c of the huge market share of the territorial US
Argues that US structural power not import/export numbers reliant, but if it can be estimated at all, it is the total alue of goods and service produced by large companies responsive to policy decisions taken by the US govt.
Knowledge: power to determine what knowledge shall be sought. Eg, the continued dominance of US in most of hte high-tech industries. US banks in transborder data flows.
Security: The only structure where US shares power (ie with the USSR at the time). rest of the world relies on either US or USSR as balance, backup.
Argues we need to redefine empires, both in their simple meaning, and in whether we view them as "bad." The American nonterritorial empire preferable to a Soviet or Japanese one. Easier to integreate into American society (as 'semicitizens' can tell you).
This article is rather old, but I wonder if she is addressing the direction of the US's power. Now it would be especially interesting to take that into account with Russia and China re-emerging.
This lady sure is high on America! Would she be surprised to find out other countries have nationalistic slogans, none of which are "We're #2"?
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