Global Economics

Oh, What a World! What a World!


Joseph Nye Jr., Harvard political science professor and former Assistant Secretary of Defense for International Security Affairs

Photograph by Lane Turner/The Boston Globe/Getty Images

Joseph Nye Jr., Harvard political science professor and former Assistant Secretary of Defense for International Security Affairs

Philip Verleger, a respected energy analyst, argues that, by 2023, the 50th anniversary of Nixons Project Independence, the U.S. will be energy independent in the sense that it will export more energy than it imports. Verleger argues that energy independence could make this the New American Century by creating an economic environment where the United States enjoys access to energy supplies at much lower cost than other parts of the world. Already, Europeans and Asians pay 4-6 times more for their natural gas than Americans do.

–Joseph S. Nye, Energy Independence in an Interdependent World, Project Syndicate, 11 July 2012.

Please read the Nye essay, to once again see how he takes certitude and provides terrific nuance and subtlety.

Our collective crisis soon enters its sixth year. Our singular discontent drowns trans-Atlantic dithering. Madrid is not Kansas. Madrid is not even Oz.

For immediate relief, purchase with strengthened dollars, Keohane & Nye. (Bonus: it’s the 4th edition which means the classic is ever classier.)

Power & Interdependence is a “textbook” but fear not. Acquire the entire 368 pages, and read a chapter here (Spain tells Italy off) or there (Team Obama and Team Romney won’t share the same elevator.) Chapter 10, Power, Interdependence and Globalism is worth the price of admission.

Click your heels. I’m betting on Phil Verleger’s New American North Dakota. In the meantime, “Oh, what a world, what a world!”

Keene hosts Bloomberg Surveillance 7-10 a.m. ET on 1130 AM in the New York metro area and nationally on SiriusXM 113.

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