Power is exerted in a number of ways, not just through the brute force of soldiers. As countries get more and more in the habit of obeying UN resolutions, the pressure is going to be greater and greater for us to do the same, if we want to keep other countries complying with resolutions that we sponsor. No matter how you slice it, a "more effective" UN translates to diminished sovereignty of the member states. There's no way around it. And just to get an idea of the type of "effectiveness" Bolton has in mind, we can just listen to him from my link at #126:
We must also work together to help Member States build capacities to combat terrorism as outlined in Resolution 1373, passed on September 28, 2001. This resolution obligates all U.N. member states to use their domestic laws and courts to keep terrorists from sheltering resources or finding safe haven anywhere in the world and to cooperate in investigating, prosecuting, and preventing terrorism wherever it may spring up. The U.N. Security Council is monitoring compliance with the requirements of this resolution, with impressive results: to date 142 countries have issued orders freezing the assets of suspected terrorists and terrorist organizations; accounts totaling almost $105 million have been blocked - $34 million in the U.S. and over twice that amount in other countries.Now you can certainly say that this is all a good thing on the surface: No one can argue that it's undesirable for countries to take steps to counter terrorism. What matters here, though, is that the UN is able to call the shots the way it does. In other words, it's acting like a government, and governments have a tendency to get more powerful, especially when few people are paying serious attention.