PAUL KRUGMAN'S GLOBAL DISORDER THEORY | KINDLEBERGER FRAMEWORK
Global Affairs Session 52 10 June 2026 PAUL KRUGMAN'S GLOBAL DISORDER Why the world has lost its stabilizing hegemon Paul Krugman argues that the world may go without a clear "world order" for quite a while: the Pax Americana is unwinding, globalisation is fragmenting rather than simply reversing, and no power is stepping up to play the stabilizing role Charles Kindleberger once assigned to a hegemon. The question that follows is whether Europe can fill the gap.