Many in the country and across the globe believe that the US is slipping away from being the world's most powerful nation. [...] He (Joseph Nye) corroborates his arguments with facts and figures on the indices of America's favourable geography, demographics, military power and soft power, purchasing power parity and science and innovation. 

For proponents of targeted, or “smart,” sanctions, it was unquestionable proof of such punitive financial measures’ effectiveness as a foreign policy tool. They may be right. The unprecedented regime of UN, regional, and national sanctions leveled against Tehran was instrumental in slowing its progress toward nuclear weapons capability and bringing Iran’s leaders to the negotiating table.

Indian Prime Minister Narendra Modi will soon be completing his first full year in office. While he has his critics, there tends to be broad agreement that Modi has done a robust job in the sphere of foreign policy. Modi’s approach has focused on economics, soft power, connectivity, and maritime security. Modi has been deft at using what Joseph Nye has dubbed “smart power” – the right blend of soft power and hard power.

The former Secretary of State, and likely 2016 presidential nominee for the Democratic Party, Hillary Clinton has, along with the Obama administration, pushed the concept of ‘smart power’ – a convergence of hawkish ‘hard’ and a more internationalist ‘soft’ power in U.S. international relations. (...) A departure from the pre-2008 policies of George W. Bush, this move to ‘smart power’ is actually a rebranding of previous tactics which co-opts ‘soft power’ ideas of engagement to work alongside a still strong national security state. 

Harvard professor Joseph Nye, well known for his explorations of soft power, considers the American prospect in his newly published book, Is the American Century Over? His answer is a carefully constructed "No," which is based partly on the fact that there is no logical successor to convincingly claim dominance over the next century.