Question
Examine the U.S. hegemony as a structural power.
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Answer
The US Hegemony as a structural power:
- Hegemony as a structural power is the role played by the US in the world economy and existence in providing global public goods– such as the sea lanes of communication (SLOCs)
- The naval power of the hegemony is another reason for its structural power.
- The internet is the direct outcome of a US military research project that began in 1950. Even today, the Internet relies on a global network of satellites, most of which are owned by the US government.
- The US is present in all parts of the world, in all sectors of the world economy and in all areas of technology.
- The US share of the world economy remains an enormous 28 per cent. The US also accounts for 15 per cent of world trade. There is not a single sector of the world economy in which an American firm does not feature in the “top three” lists.
- It is important to remember that the economic preponderance of the US isinseparable from its structural power, which is the power to shape the global economy in a particular way.
- A classic example of the structural power of the US is the academic degree called the Master’s in Business Administration (MBA). The first business school in the world was established in 1881. Today, there is no country in the world in which the MBA is not a prestigious academic degree.
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