Last Sunday's New York Times reported that “Mr. Obama will confront resentment over American-style capitalism and resistance to his economic prescriptions when he lands in London. ... [H]e will be tested in face-to-face meetings by the leaders of China and Russia, who have been pondering the degree to which the power of the United States to dominate global affairs may be ebbing. ... The American banking collapse, which precipitated the global meltdown, has led to a fundamental rethinking of the American way as a model for the rest of the world.” This may seem an odd beginning to a review...