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With the US invasion of Iraq, American neoconservatives have sought to lay the groundwork for a foreign policy that assures American hegemony as the world’s sole superpower. How is this development to be explained from an historical materialist perspective? Does the new American drive toward hegemony reflect a new stage of world capitalism or is it rather more a conjunctural artifact of American politics? This paper explores these questions. In particular, it will be argued, it is necessary for historical materialists to think through once again the relations between the state, the economy, and ideological social movements. [ABSTRACT FROM AUTHOR]