A great deal of the world's history is the history of empires. And although the great historic imperial systems - the land-based Russian one as well as the seaborne empires of western European powers - have collapsed during the past half century, their legacies shape almost every aspect of life on a global scale. Meanwhile, what has replaced the old territorial empires in world politics? Do the United States and its allies, transnational companies, financial and media institutions, or more broadly the forces of 'globalization', constitute a new imperial system?