International Political Economy Thesis Statement

After 1918, the United States rather suddenly became the world’s most powerful nation. Unlike Britain, which achieved economic leadership gradually through the 17th and 18th centuries, the U.S. found international leadership thrust upon it by the devastating effects of the First World War on Great Britain and the other European powers. Having attained world leadership not so much by design as by default, the domestic economic and political characteristics that might have supported free trade in the U.S. were weak or underdeveloped compared to the characteristics supporting closure. As a result, over the course of the 1920s the U.S. turned inward, a move that cascaded throughout the international system.