This book was published by Gosizdat in 1926, and was never published again in the Soviet Union. The book consists of two reports by Leon Trotsky to communist audiences, the first in July 1924, and the second in February 1926 on the topic of America's role in world capitalism, with excerpts from his other articles and reports on the same topic. The issues that Leon Trotsky raised in his speeches are still of keen interest today. Its main point is that the United States of America has seized the role of capitalist hegemon, which Great Britain held before the First World War, and which Germany tried to win back twice in the 20th century - this position retains enormous theoretical and political interest to this day.