NCERT Class 12 Political Science Chapter 3: US Hegemony in World Politics | CBSE | English| Examrace
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Politics is about power. Just as individuals want to gain and retain power, groups too want to gain and retain power. This power is in the form of military domination, economic power, political clout and cultural superiority.
France – 1660-1773 -1st hegemony – Louis XIV
Britain – 1860 -1910 – 2nd hegemony – Victorian Period
For instance, during the years of the Cold War (1945-91) power was divided between the two groups of countries, and the US and the Soviet Union represented the two ‘camps’ or centres of power in international politics during that period. The collapse of the Soviet Union left the world with only a single power, the United States of America.
Sole power or hyperpower is called unipolar world - It may be more appropriate to describe an international system with only one centre of power by the term ‘hegemony’.

an open world economy requires a hegemon or dominant power to support its creation and existence
Hegemon possess both the ability and the desire to establish certain norms for order and must sustain the global structure. The hegemon usually does this to its own advantage but often to its relative detriment, as its competitors take advantage of the openness of the world economy without paying the costs of maintaining its openness
Hegemony in this second sense is reflected in the role played by the US in providing global public goods. By public goods we mean those goods that can be consumed by one person without reducing the amount of
the good available for someone else. Fresh air and roads are examples of public goods. In the context of the world economy, the best examples of a global publicgood are sea-lanes of communication (SLOCs), the sea
routes commonly used by merchant ships – opened doors for free trade – ensures freedom of navigation in international waters. Since the decline of British naval power after the Second World War, the multi-oceanic US Navy has played this role
Internet – Virtual world of www – Internet is the direct outcome of a US military research project that began in 1950.
US share of the world economy remains an enormous 28 per cent.
The US also accounts for 15 per cent of world trade, if intra- European Union trade is included in world trade data. There is not a single sector of the world economy in which an American firm does not feature in the “top
three” list.
Bretton Woods system, set up by the US after the Second World War, still constitutes the basic structure of the world economy – thus world bank, IMF and WTO are products of US hegemony
Idea of MBA - business is a profession that depends upon skills that can be taught in a university is uniquely American. The first business school in the world, the Wharton School at the University of Pennsylvania, was
established in 1881. The first MBA courses were initiated around 1900. The first MBA course outside the US was established only in 1950.

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