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LEO PANITCH and SAM GINDIN
SUPERINTENDING GLOBAL CAPITAL
As if taking too literally the maxim that Minerva’s owl flies at twilight, it seems that the imperial nature of the American state is belatedly being acknowledged today only to announce its imminent demise—the ‘unravelling’ of us hegemony.  In these accounts, the military occupation of Iraq is often seen as a desperate attempt to re-impose a faltering us leadership by force of arms. What these analyses tend to ignore is the unique scope and scale of the us imperialist state, and the specific role it has played in the making of the world economy in the postwar period. An evaluation of the us’s continuing capacity to shape global capitalism in the 21st century therefore requires some theorization of the imperialist state itself. 
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