How and when there was a change of hegemon in the world-economy over the past 500 years. The status of hegemon determined who would exploit the world periphery, appropriate surplus product created in other regions of the world, establish trade monopolies, gain access to cheap resources, including labor, and control markets. Who is now replacing the current hegemon, in what form will this happen, and is it possible to change the principles on which the world-economy is based.