To recover its place in the world, the United States should first recover its confidence. It remains the world’s only superpower, the only big country with a total portfolio of military, economic and political dominance. Most major states are either well disposed toward it or, at worst, neutral. The challenges America confronts come from small, faceless terrorist organizations and a few rogue nations. This is not to minimize the challenges. Today’s asymmetries of power mean that small groups can do big damage. But it is to put things in perspective. When President Bush speaks of Iran’s nuclear program as the road to World War III, one wonders if he has noticed that Iran’s total GDP is just one sixty-eighth that of the United States, or that its military spending is less than 1 percent of the Pentagon’s.
The real challenges that the United States faces come not from globalization’s losers but from its winners, not from yesterday’s bombs but from tomorrow’s factories. The crucial project for the next president will be to change the basic focus of U.S. foreign policy, away from the Middle East and toward the Far East. When the history of these times is written, surely the great trend that will dominate the accounts, far larger than the war in Lebanon or the tensions over Iran, will be the rise of China and India and how they reshaped the world.
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In this issue of Regulation, Jonathan H. Adler and Nathaniel Stewart make the case for property-based fishery management, utilizing territorial or catch-share allocation among fishery participants. Also in this issue, Michael L. Wachter explores the relationship between the much-maligned National Labor Relations Act and the decline in union membership.
Robert A. Levy discusses the Hobby Lobby case and the contraception insurance mandate on The Bob Harden Show
April 16, 2014
April 16, 2014
Latest CommentaryThe president is literally forcing taxpayers, without any legal authorization, to subsidize two out of every three Exchange enrollments.
Timothy Sandefur’s insightful new book documents a vital, forgotten truth: our Constitution was written to secure liberty, not to empower democracy.