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Charles P. Kindleberger is one of the scholars most closely associated with HST, and is regarded by some as the theory's father. In the 1973 book "The World in Depression: 1929-1939", he argued that the economic chaos between World War I and World War II that led to the Great Depression was partly attributable to the lack of a world leader with a dominant economy. Kindleberger's reasoning touched upon more than economics, however: the central idea behind HST is that the stability of the global system, in terms of politics, international law, and so on, relies on the hegemon to develop and enforce the rules of the system.
Charles P. Kindleberger