1981/06/01 by Charles P. Kindleberger · 4 citations
Economics, Econometrics and Finance · Social Sciences · #Defense, Military, and Policy Studies #International Relations and Foreign Policy #Global Economic and Social Development
paper · doi:10.2307/2600355
It is often difficult to distinguish dominance from leadership in international economic relations. The latter concept, however, rejects exploitation and implies an often critical function in the provision of public goods. In its absence, the provision of such public goods as a market for distress goods, a steady flow of capital, and a rediscount mechanism may disappear. This stabilization function was provided by the United States in the first postwar decades, but the U.S. now has neither the will nor the international acceptance to play such a role. And a successor is not in sight.