The economic success of the Reagan Administration was largely dependent upon the pyramiding of massive debt and the siphoning of capital from the rest of the world.

Through exploitation of its influence over global financial affairs, the United States has been able to cover the costs of its hegemonic position, preserve a false domestic prosperity, and mask the consequences of its relative political and economic decline.

The clustering of technological innovation in time and space helps explain both the uneven growth among nations and the rise and decline of hegemonic powers.

Trade is the oldest and most important economic nexus among nations. Indeed, trade along with war ha been central to the evolution of international relations.

The competitive nation-state system, with all its capacity for good and evil, is spreading in the Third World and is transforming that world.

Among the many factors that make a return to halcyon days of the first decades of the postwar era virtually impossible is the decline of clearly defined political leadership.

There is a pressing need to integrate the study of international economics with the study of international politics to deepen our comprehension of the forces at work in the world.

Many critics see international trade as a form of cultural imperialism that must be strictly controlled.

The core of the Marxist critique of capitalism is that although the individual capitalist is rational (as liberals assume), the capitalist system itself is irrational.

The multinational corporation and international production reflect a world in which capital and technology have become increasingly mobile, while labor has remained relatively immobile.

Structuralism argues that a liberal capitalist world economy tends to preserve or actually increase inequalities between developed and less developed economies.

In short, the elimination of the financial legacy of Reaganomics could force the United States to make some exceptionally difficult choices indeed.

I was certain that I was not a Marxist, but I did believe firmly that a connection between economics and politics existed.

One reason for the primacy of the market in shaping the modern world is that it forces a reorganization of society in order to make the market work properly . When a market comes into existence, as Marx fully appreciated, it becomes a potent force driving social change.