ABSTRACT
The United States and other advanced countries are clearly in transition-one variously designated as from industrial to postindustrial societies, or into the "information age," or as a period of "discontinuity"; yet, many of the developing countries are still in transition from agricultural to industrial societies. The United States virtually dictated the rules because its economy equaled nearly half that of the free world and it agreed to bear the burdens of adjustment. The United States can provide initial leadership in helping to identify the goal, but it must also be acceptable to others. Even the United States should seek to expand its own common market by offering free trade to Canada, Mexico, and potentially the Caribbean. The criterion for international cooperation in the Bretton Woods Agreement was singularly that of efficiency, out of which progress and stability were to arise.
