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Fiscal Crisis and World Order

Fiscal Crisis and World Order

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The crisis facing the United States is both economic and political, and its effects are felt both at home and abroad. The author presents a detailed look at how the present world order is or could be affected by a total global economic collapse. He asks whether a world governance system is feasible and desirable, and explores what forms such a system might take, depending upon whether such players as China, the Russian Federation and the Islamic nations continue to make economic progress or suffer setbacks.The book first approaches the fiscal crisis that hit the United States and global economy starting in 2008 with a short historical background. It details the various aspects involved in the economic and fiscal crisis in relation to congressional efforts to produce a solution to these problems and predicts what success can be expected from these efforts. The book is written in a manner that will allow readers access, in one place, to most of the issues involved in both the recent recession, the current fiscal crisis, and the possible double-dip recession. Secondly, the author looks (from several points of view) at what effects will be seen in the global world order if we do not solve the issues at the national level. Lastly, the author considers what the effect could be if the current system of nationalism (the Westphalian system) fails in relation to international cooperation.