Kennedy’s influential work argues that the relative power of nations is determined by the interplay between their economic resources and their military commitments. He contends that the “rise” of a Great Power is closely linked to its ability to harness economic growth and technological innovation, while “fall” often results from “imperial overstretch”—when a state’s military and security ambitions outpace its economic capacity to sustain them. Throughout the book, Kennedy examines how shifts in economic and industrial strength, population, and access to resources have affected the global balance of power.

The book begins with the early modern era, tracing the emergence of Western European states and their competition with the Ming and Muslim worlds. Kennedy details how the Habsburgs, Bourbons, and other dynasties managed (or failed) to balance military expenditures with economic development, and how Britain’s financial and industrial advantages underpinned its global dominance. He analyzes the transformative impact of the Industrial Revolution, the rise of new powers like Germany and the United States, and the ways in which economic and technological changes continually reshaped the international order.

Kennedy’s analysis extends through the twentieth century, exploring the dynamics of two world wars, the emergence of the U.S. and the Soviet Union as superpowers, and the challenges of the postwar era. He warns that even the strongest states are vulnerable to decline if they fail to maintain a sustainable balance between economic strength and military commitments—a lesson he applies to both the Soviet Union and the United States as the Cold War drew to a close.