Twelve months ago, the international community heaved a sigh of relief as the major powers appeared to reach a compromise on how to manage Iraq. But Washington's determination to act on its own cut short the role of U.N. weapons inspectors and challenged the very notion that the organization has a role to play in issues of peace and security.

Today, the international scene is much altered. Bogged down in Iraq, Washington is relying on multilateral processes to address threats of nuclear proliferation in North Korea and Iran. It also has backed down on protectionist tariffs on steel imports condemned by the World Trade Organization.

The capture of Saddam Hussein provided welcome respite, but foreign-policy coherence is still missing in action in Washington. The situation in Iraq, a product of a post-9/11 reaction aggravated by hubris, offers no attractive short-term options. And in the long term, as Lord Keynes remarked, we are all dead.