From Real Clear Politics
By Robert Samuelson

With hindsight, we may see 2006 as the end of Pax Americana. Ever since World War II, the United States has used its military and economic superiority to promote a stable world order that has, on the whole, kept the peace and spread prosperity. But the United States increasingly lacks both the power and the will to play this role. It isn’t just Iraq, though Iraq has been profoundly destabilizing and demoralizing. Many other factors erode U.S. power: China’s rise; probable nuclear proliferation; shrinking support for open trade; higher spending for Social Security and Medicare that squeezes the military; the weakness of traditional U.S. allies, Europe and Japan.

By objective measures, Pax Americana’s legacy is enormous. Since Hiroshima and Nagasaki, no nuclear device has been used in anger. In World War II, an estimated 60 million people died. Only three subsequent conflicts have had more than a million deaths (Vietnam, 1.9 million; Korea, 1.3 million; and China’s civil war, 1.2 million). Under the U.S. military umbrella, democracy flourished in Western Europe and Japan. It later spread to South Korea, Eastern Europe and elsewhere.

Prosperity has been unprecedented. Historian Angus Maddison tells us that from 1950 to 1998 the world economy expanded by a factor of six. Global trade increased 20 times. These growth rates were well beyond historic experience. Living standards exploded. Since 1950, average incomes have multiplied about 16 times in South Korea, 11 times in Japan and six times in Spain, reports Maddison. From higher bases, the increases were nearly five times in Germany and three in the United States.

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