Some time ago, as I was preparing a review for a translated edition of Immanuel Wallerstein’s “European Universalism,” I came to wonder about the historical meaning of the Wall Street financial situation. I tried to find how many writings existed that went beyond an economic analysis of this situation and dealt with it on a macro-level. Surprisingly, very pessimistic forecasts were being presented by people who had not ordinarily been especially given to pronouncements about American imperialism and who were not categorized as particularly radical. Furthermore, not a few neoconservative theorists were presenting this kind of judgment. If even centrists and conservatives have a gloomy view of the United States, this presents even more reasons for assessing the nation dispassionately, based not in fixed opinions but on a...
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