decline of the American empire

Summary: Despite some eerie parallels between the position of the United States today and that of the British Empire a century ago, there are key differences. Britain's decline was driven by bad economics. The United States, in contrast, has the strength and dynamism to continue shaping the world -- but only if it can overcome its political dysfunction and reorient U.S. policy for a world defined by the rise of other powers.

In the course of his visit to the Southern Cone of South America, the American sociologist Immanuel Wallerstein spoke on one of his favorite subjects: the end of the United States' hegemony—which, he believes, will be definitive within the next decade. But he also let it be known that in the course of the next two or three decades we will be living in a post-capitalist world that could either be much better, or worse, than the present one.