On a structural level, the basic imbalances that caused the recent economic crisis have not been resolved. Despite renewed optimism amongst many analysts, the only reliable prediction for the immediate future remains uncertainty and continued volatility, says Jayati Ghosh.
The financial crisis exposed not only the risks inherent in our prevailing economic model, but also the moral deficit of market fundamentalism. Will we seize this opportunity to prioritise sustainability and community resilience above growth and individual gain? By Joseph Stiglitz.
For more than two years the world has been wracked by a series of interrelated crises, leaving us trapped in a state of limbo between old dogmas and a shifting middle ground. Social movements must now forge a new 'common ground' beyond a rejection of neoliberalism, writes Turbulence Magazine.
In response to popular outcry after the financial crisis of 2008, politicians around the
world seem ready to discuss how to regulate and restrain the market.
The question is, can they, and, if they can, in whose interests will
this regulation work?
By Raj Patel.
After three summits have produced only broad policy statements of a voluntary nature, the G20 is not a credible policymaking body to address the global economic crisis. Will it now serve as the lightning rod for the rebirth of the anti-globalization movement? By Walden Bello.
The international monetary framework which emerged after the
collapse of the Bretton Woods system in the 1970s has proved volatile, damaging
and prone to crises. It is time for a fundamental redesign and the introduction
of a global reserve currency, argue Peter Chowla, Barbara
Sennholz and Jesse Griffiths.
The global recession is expected to push 89 million more people into
extreme poverty by the end of 2010, the World Bank said as it
called on the leaders of the 20 largest economies to engage in
"responsible globalization", writes Annys Shin.