Power shift

The nation-state may be obsolete in an internetted world. Increasingly, the resources and threats that matter disregard governments and borders. States are sharing powers that defined their sovereignty with corporations, international bodies, and a proliferating universe of citizens groups. The bond markets must be satisfied or capital will go elsewhere. International involvement in domestic crises is a growth industry. Activists fight battles in cyberspace for every imaginable cause-and the nation-state gives in. The ramifications of this power shift will be seismic.