EconAir

Vienna's Ringstrasse Europe: 1871-1914. Some political commentators believe we are returning to a political order similar to that of Europe in the years preceding World War I. It was a period of tremendous economic development, economic growth, and economic change. Some economic historians call this period the Second Industrial Revolution.  Much of the technology of the modern world was created during this period - electricity, steel, skyscrapers, autos, oil refining, chemicals, telephones, radio, movies, record players, and airplanes. Large expansion of railroads and steamships. Mass production, factories, industrial centers and the modern corporation. Large expansion in the economic role of finance and financial institutions. Also a large increase in international trade that threatened established national economic groups with political power, especially European landowners and farmers (except in Austria-Hungary). As the Industrial and Transportation Revolutio

There are two kinds of empires: the kind that rules through ruthless exploitation, and the kind that seeks to induce allies into defending themselves through economic incentives. (George Friedman) INTRODUCTION America's power and influence in the world rests on three broad, interrelated bases: 1) Overwhelming military power that can be projected anywhere in the world,     supplemented by security arrangements with allies and supporters. 2) A large, innovative, dynamic domestic economy as the basis for global economic and technological leadership. The economy provides the resources and technology to support the military and a global foreign policy. 3) Claims to moral and ideological leadership and influence, particularly the promotion of liberal democratic societies and supporting political institutions. This post will discuss the economic aspects and related security objectives of American foreign policy. It will focus on the structure of the global