DANIEL DREZNER: Predictions about the death of American hegemony may have been greatly exaggerated. “The United States is not in decline; in fact, it is now wealthier, more innovative, and more militarily powerful compared to China than it was in 1991.”

Plus this: “Since the Second World War, the pattern in the global political economy has been for the United States to adjust to systemic shocks better than any potential challenger country. A lot of very smart people have predicted that this time was different — the United States wouldn’t be able to do it again. These trends suggest that maybe, just maybe, that might be wrong.” Well, we have the worst political class in our nation’s history. On the other hand, the political classes elsewhere aren’t anything to write home about, either.