September 11th and U.S. Hegemony—Or Will the 21st Century Be American Too?

The tragedy of September 11 highlights the stark contrast between the real and measurable capabilities possessed by one state, and the almost inevitable resentments which the possession of those capabilities engendered in others. The purpose of this article is not to interrogate the strengths and weaknesses of arguments of American decline. Nor is it to speculate at length about September 11th. It is instead to set the scene and try and identify the underlying causes of America's transition from presumed crisis in the 1970s and 1980s to new self-confidence in the 1990s—a self-confidence that some now feel has been shattered by the events of September. While there were important structural reasons why the United States was unlikely to go the way of other powers, it was a peculiar conjuncture of mainly unforeseen developments that combined together after 1989 to improve the U.S. position within the world. We will then move on to discuss the most effective way of characterizing this position. Here, we will mount a defense of the somewhat contentious notion of "hegemony" While recognizing the problems associated with the idea, it will be argued that as a concept it has serious intellectual advantages over its various theoretical competitors. If nothing else, because it focuses on the American role within the world system, rather than just its statically defined position, it is theoretically more suggestive than the less dynamic idea of unipolarity.     

The ECJ eases the way for comparative advertisers

The ECJ reiterates its support for the comparative advertiserby indicating that common sense is needed to comply with theMisleading Advertising and Comparative Advertising Directive(Directive 97/55).     

Explaining economic growth in the Soviet Union, 1950–86

Production function estimates are provided for Soviet industrial production and gross national product for the period 1950–86. A variety of alternative specifications is tested, including Cobb-Douglas, constant elasticity of substitution and variable elasticity of substitution production functions, and an error correction mechanism is used to investigate the long-run properties of the estimated equation. The structural stability of the estimates is also examined. Constant-returns-to-scale Cobb-Douglas production functions suggest that the rate of total factor productivity growth in the Soviet economy has declined steadily over time, becoming negative sometime in the period between 1970 and 1980. However the extensive statistical tests can doubt on the validity of any production function estimated on Soviet data.