The Great Illusion

Paul Krugman in the NY Times

The war in Georgia isn’t that big a deal economically. But it does mark the end of the Pax Americana — the era in which the United States more or less maintained a monopoly on the use of military force. And that raises some real questions about the future of globalization.

The Unrepentant Marxist wonders, Has Krugman been reading Lenin?