STWR - Share The World's Resources

Ideology, self-interest, populist politics, and sheer incompetence have left the U.S. economy on life support. As we attempt to resolve the present crisis, careful balancing is required. If decisive action is taken today, we can shorten the length of the downturn and build a durable foundation for economic health, writes Joseph Stiglitz

The Wall Street meltdown is not only due to greed and to the lack of government regulation of a hyperactive sector. This collapse stems ultimately from the crisis of overproduction that has plagued global capitalism since the mid-1970s - and the worst is not yet over, says Walden Bello.

Rather than seeking to restore the health of Wall Street’s private institutions, a proper plan would seek to rid Wall Street of its purely predatory elements - while dismantling and reassembling its useable institutions to create a new system accountable to the needs of Main Street, says David Korten.

The bailout burden for the financial crisis will not be equally shared unless there is strong and dedicated mobilisation and campaigning across the world - which makes a common cause across issues such as house repossessions, food price rises, and the unaccountability of the financial system. By Alex Wilks.

The turmoil in the financial markets and the resulting slump in the global economy has highlighted the stark inequality in the European Union, reports David Cronin.

The US is poised to lose its role as a global financial “superpower” in the wake of the financial crisis, Peer Steinbrück, German finance minister, said on Thursday as he called for a regulatory crackdown on financial markets. By Bertrand Benoit.

The most fundamental flaw in the US financial market system is its inherent drive towards excess, and the end result is always systemic implosion.The costs are now coming headlong like a runaway freight train, writes Henry C K Liu.