It means that they also recognize American hegemony as no one can dispute that the US is the only remaining superpower. The realist assertion that hegemony means equilibrium or the balance of power does not certainly mean equal benefit or equal strength. They perhaps simply mean equal opportunity or equal protection, which is guaranteed in the American democracy. Andreas Hasenclever, Peter Mayer, and Volker Rittberger stated, “Realist theories of regimes emphasize relative power capabilities as a central explanatory variable and stress states sensitivity to distributional aspects of cooperation and regimes” (84).
Open markets and free peoples were inextricably interrelated. To win the transnational ideological conflict, U.S. officials had to make the world capitalist system function effectively. By 1947, they realized the IMF and the World Bank were too new, too inexperienced, and too poorly funded to accomplish the intended results. The U.S. had to assume the responsibility to provide dollars so that other nations had the means to purchase food and fuel and, eventually, to reduce quotas and curtail exchange restrictions. In June 1947, Secretary of State George C. Marshall outlined a new approach, saying the U.S. would provide the funds necessary to promote the reconstruction of Europe. The intent of the Marshall Plan was to provide dollars to likeminded governments in Western Europe so they could continue to grow their economies, employ workers, insure political stability, undercut the appeal of communist parties, and avoid being sucked into an economic orbit dominated by the Soviet Union. U.S. officials wanted European governments to cooperate and pool their resources for the benefit of their collective well-being and for the establishment of a large, integrated market where goods and capital could move freely. In order to do this, the U.S. would incur the responsibility to make the capitalist system operate effectively, at least in those parts of the globe not dominated by the Soviet Union. The U.S. would become the hegemon, or overseer, of the global economy: it would make loans, provide credits, reduce tariffs, and insure currency stability (16).
Antonio Gramsci and Cultural Hegemony – Usa Online Essays
Why US hegemony in the 20th century was inevitable. Sign up to view the whole essay and download the PDF for anytime access on your computer, tablet or smartphone.