Some economists believe that the Great Depression of the 1930s was aggravated by bad monetary policy and lack of American leadership. Britain was too weak to maintain an open international economy, and the United States was not living up to its new responsibilities.

Effective foreign policymaking requires an understanding of not only international and transnational systems, but also the intricacies of domestic politics in multiple countries. It also demands recognition of just how little is known about “building nations,” particularly after revolutions – a process that should be viewed in terms of decades, not years.

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The world at the beginning of the twenty-first century is a strange cocktail of continuity and change. Some aspects of international politics have not changed since Thucydides. There is a certain logic of hostility, a dilemma about security that goes with interstate politics. Alliances, balance of power, and choices in in policy between war and compromise have remained similar over the millennia.