when everyone see the U.S.A downgrade and its consequences on the word markets and emerging nations, I see it as a end of unipolar world and the start of new era that is 'MULTI POLAR WORLD'. The giant glacier of hegemony is melting, it will result in tiny springs of power flowing like streams in all directions and establishing a multipolar world. The pivotal position of U.S.A power and its hegemony of exerting its arbitory will have changed. from now onwards the shift of power is inevitable though it may regain its economic balance.C.W MILLS POWER ELITES gives an insight of how these three power elites control the power in U.S.A(military,industrial,political), U.S in turn exhibit its power on the world. there is an imbalance in this elite structure and it is evident in the contradicting views among them on the issues like "no fly zone" over libya, U.S army officer Bradley Manning’s episode in wiki leaks is a classical examle.now, U.S with its debt crisis has to cut its defiance spending, raise the taxes, negotiate with the world politics....this means dilution of power of the ELITE TRIO. Ones loss is the others gain this means, still now the benefits they are enjoying because of globalization has to share with the result of the world, if it tries to regain its command on world markets by hook or crook, it can’t take the mounting burden. The puppet governments put by U.S.A in the Arab world is crumbling....aspiring for a democratic change. FRIENDS don’t worry of the economic downgrade, slow down or recession whatever you may call it, if we recall ADAM SMITH'S classic work the 'WEALTH OF NATIONS" he rightly points out man is an economic being, he has an economic behavior and he knows how to adjust to different situations, in his work he explains about the invisible hand of market which is self correcting. If we consider the great biologist CHARLES DARWIN’s theory of adaptation of different spices to different conditions man is no exception not only to climatic conditions but also with economy. Economy is the best example for adaptation.
