At a time when it is common to predict US decline, this book concludes that America will bounce back and preserve its unique position for years to come. While the prevailing wisdom claims that the United States is suffering from huge trade deficits, a weakening currency, and military overstretch, this book systematically examines each of these areas and concludes that, if anything, the US position will actually strengthen as a result of these perceived weaknesses. The misguided nature of claims of US decline is in part due to a false belief that the United States acts out of benevolence to support an international system where others benefit more than it does. Carla Norrlof argues that in fact the United States does not act out of altruism, and it benefits disproportionately from its role of supporting markets, supplying the world’s reserve currency and being the most dominant military power. US hegemony is under no immediate threat. Links between trade, money, and security show continuing stability rather than decline. Theorists of decline point to huge US deficits. Norloff responds with the puzzle that if it is the case that we should avoid deficit policy, why has the United States followed this line for 40 years? Her answer is that the United States can do so because of its ‘‘multi-purpose power base’’ (p.5). It receives more than what it pays for the public good it provides and gets higher returns than other states in trade, money, and security. Although it runs persistent trade deficits, its position in the international system allows it to benefit from this. It is therefore quite wrong to think that the provision of public goods by the United States comes at a cost to itself. It is the United States that gains disproportionately from having the world’s reserve currency, enjoying military supremacy, and supplying a large open market. Enjoying military supremacy brings with it monetary and trade advantages. Military might gives greater opportunities for commercial expansion. Having the world’s reserve currency also brings economic advantage and disproportionate gains. Superior commercial power gives the US financial supremacy and additional policy flexibility. Norrlof’s theoretical framework is shaped by a critical engagement with hegemonic stability theory. In adopting this approach, she treats states as rational actors that seek to maximize their gains and minimize losses. Having the largest domestic economy, world currency, and strongest military gives the United States structural and positional advantage that gives it the ability to shape economic institutions so it can gain disproportionately from economic interactions. As she says, ‘‘the international economy is a system of asymmetrical cooperation in which the United States has an advantaged position and enjoys disproportionate gains as a result’’ (p. 7). While all states may gain through cooperation, when we