ABSTRACT
An international movement toward “free trade” and globalization shaped the second half of the twentieth century. Globalization has been shaping the beginning of the twenty-first century in a similar way. Most nations have built in significant protections and regulatory frameworks to keep globalizing forces in line. One developed nation, the United States, has eschewed this protection almost completely while it cannot keep up with the growth seen elsewhere in the world. It has fallen behind other developed nations on strategically important issues like education, health care and, infrastructure. From a hegemonic standpoint, there are signs that the United States has lost its capacity to determine the direction of the global economy.
