Ultimately...the hierarchy of prestige in an international system rests on economic and military power. - Robert Gilpin

Liberal economists conceive of societies as black boxes connected by exchange rates; as long as exchange rates are correct, what goes on inside the black box is regarded as not very important.

Despite its increased dependence on the international economy, America continues to behave as if it were either a closed economy or the leader whom everyone else should automatically follow.

Through exploitation of its influence over global financial affairs, the United States has been able to cover the costs of its hegemonic position, preserve a false domestic prosperity, and mask the consequences of its relative political and economic decline.