The search for a more effective world order which provides not only stability but meets minimum standards of justice is one of the major concerns of political leaders and scholars alike. Increasing interdependence signifies that the fortunes of nations are growing ever more closely. While there is common interest in strengthening multilateral institutions, any practical application of the concept at issue will be affected by the prevailing power structure and, to some degree, reflect it. The reality of American preeminence, unlikely to be challenged in the years to come, needs to be reconciled with the demand for international legitimacy. Taking stock of recent contributions to the debate, this book argues for a reappraisal of the traditional assumptions of world order.The result is a balanced analysis which strikes the middle ground between short-sighted realism, on the one hand, and utopian idealism, on the other.