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The present instability in the world financial system was not inevitable. It is the direct result of a number of decisions (or rather non-decisions) for which the US in particular must be held responsible. The main prerequisite for regaining any form of system stability is that the US resumes its hegemony and leadership. Any hope of a wider international solution is both unrealistic and unworkable. Such is the basic thesis in Susan Strange's Casino Capitalism. The book gives a number of insightful observations concerning the driving forces of today's international financial system. But in discussing the consequences of the new financial order it skirts some of the more troubling facts concerning the ability of the US to exert the leadership called for by Ms. Strange.

A review of a book by Susan Strange, Casino Capitalism, (Oxford: Basil Blackwell, 1986 [see listing in IRPS No. 46]). This work argues that the present instability in the world financial system was not inevitable, but the direct result of a number of decisions (or rather nondecisions) for which the US in particular must be held responsible. It is also argued that the main prerequisite for regaining any form of system stability is that the US resume its hegemony & leadership; any hope of a wider international solution is both unrealistic & unworkable. The book gives a number of insightful observations concerning the driving forces of today's international financial system, but skirts some of the more troubling facts concerning the ability of the US to exert the leadership called for by Strange. 4 References. Modified HA

WITHIN POLITICAL AND SOCIAL PROCESSES THE ACTORS' INTENTIONS ARE PLAYED OUT AGAINST INSTITUTIONAL 'LAWS OF GRAVITY'. WITH THIS IN MIND, THE ARTICLE FOCUSES ON THE PLANNING REGIME ASSOCIATED WITH THE SCANDINAVIAN POLITICAL MODEL. AT PRESENT THE MODEL SEEMS TO BE CHALLENGED BY A SERIES OF OBSTACLES, RAISING THE QUESTION OF THE POLITICAL MECHANISM'S ABILITY TO ADAPT. ONE HYPOTHESIS - CALLED THE "DECAY" SCENARIO - IS DESCRIBED IN DETAIL, THEREBY PRESENTING: (1) A FRAMEWORK FOR POLITICAL ANALYSIS ON A NATIONAL LEVEL; (2) SOME INDICATORS ON HOW THE "DECAY" STORY MAY TURN OUT; AND (3) A GROUP OF SUB-THEORIES SUPPORTING THE HYPOTHESIS; IN RIVALRY WITH ITS COUNTERPART, A FUTURE SUCCESS STORY OF THE SCANDINAVIAN MODEL.