Another analysis and prescription re the post-Cold War world and America's role in it. Borrowing a title from John Maynard Keynes' seminal work after the end of World War I, Chace argues that in the new internationalism economic power and social cohesion will count as much if not more than raw military power. The United States emerges as first among equals in this context, but its role is bound to be reduced. Economic solvency, the subject of a previous book by this writer, will become a key. While contracting its security commitments and revising its military role, Washington, the author believes, will have to seek new institutions to manage the critical global economy.
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