Who Owns the Twenty-First Century?

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The fall of the Berlin Wall in November of 1989 marked the end of the old contest between capitalism and communism; the integration of the European Common Market on 1 January 1993 will mark the beginning of a new economic contest. At that moment, for the first time in more than a century, the United States will become the second largest economy in the world. Japan, Europe, the United States — who will own the twenty-first century? This article is adapted from Thurow's forthcoming book, "Head to Head: Coming Economic Battles among Japan, Europe, and America" (William Morrow, 1992).

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