Abstract

Until 1980/81 it was not reasonable to suppose that the U.S.A. could be able
to reaffirm its hegemony upon their Western competitors, neither they had tried to pass to
a new international economic order and to a new labor division which they could control.
Today this probability is very high. In case the U.S.A. keep the present policy with the same
vigour until 1988, without causing an internal or international financial crash, then they will
complete a decade of absorption of liquidity, capital, and credit from the rest of the world.
The U.S.A. will also reach a five-year growth at the expense of the relative stagnation of their
more important capitalist competitors.

JEL Classification: F34; P10.