The Consequences of the Peace

by James Chace

Political Science

Mentioned in 0 episodes

The New Internationalism and American Foreign Policy: He argues that the security system now in existence in Western Europe and the Pacific must be thoroughly revised to ensure a U.S. military presence for radically different ends. Most important of all, Chace shows that the entire system of international economic institutions established after World War II must be rebuilt. The International Monetary Fund, the World Bank, the use of dollars as the world currency--all were established at a time when America could afford to underwrite economic expansion on a global scale. Now our economy is caught between attracting foreign capital through an often artificially strong dollar or being forced to drive down the value of our currency to make our goods more attractive in Europe and Japan. If the U.S. is to help shape the new international order, it is essential that we restructure our economy and return to solvency. "The hour is late," Chace writes.

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