Over the course of the last half-century the U.S. has enjoyed unprecedented power in every aspect whether it be politically, economically, militarily, or by any other means. In its dominance of world politics since WWII, the U.S. has been able to cast its influence around the globe. However, the U.S. experienced a gradual decline in its sovereignty over the course of this era as well. A prime example was in 1973 when OPEC raised oil prices drastically over the course of the next two years. “OPEC’s ability to increase at will the world price of its precious product highlighted the industrial world’s dependence on foreign sources of energy.” (Keylor, p.346) Being a sovereign nation requires not being subject to external forces, being able to conduct an independent foreign policy, and being able to control events within your own borders. Today, U.S. sovereignty continues to decline for a number of reasons. The only question is whether it is healthy or harmful for the U.S. to do so.
             The first reason why U.S. sovereignty is declining is due to what is known as interdependence. This phenomenon developed after WWII with the creation of the UN, GATT, the IMF and other such intergovernmental organizations. All of these served to create linkages between the major nations of the world in the postwar era. Membership in such organizations makes the U.S. subject to international law. Rosecrance’s identification of the trading state signifies the shift away from geopolitical influence and towards a global economy. Both the roles of international trade and foreign investment have increasingly become a greater element of U.S. economic importance. Additionally, the tying together of economies from around the world has lead to an increase in economic warfare. The increased use of economic sanctions and other such measures can be contributed to their perceived effectiveness in obtaining foreign policy goals...