This book focuses on the powerful economic, political and technological forces that have transformed the world. The author gives particular attention to economic globalisation, its real and alleged implications for economic affairs, and the degree to which its nature, extent and significance have been exaggerated and misunderstood. Moreover, he demonstrates that national policies and domestic economies remain the most critical determinants of economic affairs. Gilpin employs the conventional theory of international trade, insights from the theory of industrial organization, and endogenous growth theory. In addition, ideas from political science, history, and other disciplines are employed to enrich understanding of the new international economic order.