Deadly Politics of the State and Its Apologists

was able to impose the American will. However, the relative American economic decline and particularly its recent conversion into a debtor have eroded this American capacity. Black Monday and American paralysis in the face of it threaten to erode it even more. Yet the United States is becoming increasingly unilateralist, not to mention protectionist, and threatens international economic agreements for which its trading partners already have less than total enthusiasm even among themselves. Americans have been exporting the costs of their own economic irresponsibility. How can the Japanese and west Europeans be expected to expose their economies to the ravages that a real deflation of the American (or indeed their own) bubble will impose 6n them