September/October 2009

Since the United States first became a global superpower, it has been fashionable to speak of its decline. But in today's world, the United States' economic and military strength, along with the attractiveness of its ideals, will ensure its power for a long time to come.

The economic crisis is hurting the world's top currency. But the pound, the yen, the euro, the renminbi, and the IMF's accounting currency are no match for the dollar. At least for now.

In deciding whether to impose preconditions before negotiating with an enemy, governments should make sure two criteria are satisfied: that the opponent is capable of meeting the demands and that its doing so will not weaken its future leverage.

Most initiatives to slow global warming involve reducing carbon dioxide emissions. Little attention has been given to reducing emissions of the light-absorbing particles known as "black carbon" or the gases that form ozone--even though doing so would be easier and cheaper and have a more immediate effect.