Millennium: Winners/Losers Comi

In this outstanding essay, as terse as it is clear and challenging, French political economist Attali, adviser to Francois Mitterand, contends that ``only a radical transformation of American society'' can prevent Europe and Japan from supplanting the U.S. in global supremacy. The author, president of the European Bank of Reconstruction and Development, further charges that the decline of the U.S. is rooted in a ``cult of immediate gratification'' as opposed to the long-term vision of the Japanese. His ``musings,'' seamlessly translated by Conners and Gardels, envision life in a post-Cold War, pluralistic, technology- and market-dominated society. Economic growth must be environmentally sound, he warns, and balanced by social justice adopted by underdeveloped, overpopulated nations. Finally, he counsels, the U.N. must win truly international authority to settle global problems. Illustrations not seen by PW. (Sept.)