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Economics

Hegemonic Stability Theory in Global Economic Governance

Quick fact

The theory was significantly influenced by the economist Charles Kindleberger, who argued that the Great Depression of the 1930s was so severe because no single nation was willing to act as the global leader.

Why this is interesting

Have you ever wondered why the post-WWII era saw an explosion of global trade and prosperity? The secret might lie with a single, dominant power—a hegemon—acting as the world's unspoken manager.