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After the 2008-9 global financial crisis, reforms to promote stability, social inclusion, and sustainability were promised but not delivered. As a result, the global economic situation, marred by inequality, volatility, and climate breakdown, remains dysfunctional.
Now, the economic fallout from the Covid-19 pandemic offers us a second chance. Kevin Gallagher and Richard Kozul-Wright argue that we must grasp it by implementing sweeping reforms to how we govern global money, finance, and trade. Without global leaders prepared to boldly rewrite the rules to promote a prosperous, just, and sustainable post-Covid world economic order - a Bretton Woods moment for the twenty-first century - we risk being engulfed by climate chaos and political dysfunction.
This book provides a blueprint for change that no one interested in the future of our planet can afford to miss.
List of contents
Chapter 1: The Fierce Urgency of Now: The Case for a New Bretton Woods Moment
Chapter 2: The Origins and Antinomies of the Multilateral System
Chapter 3: Building Back a Better International Monetary and Financial System
Chapter 4: Re-aligning the Trade and Investment Regime
Chapter 5: Catalyzing Development Finance
Chapter 6: Crises, Reform and Countervailing Power
Bibliography
About the author
Kevin P. Gallagher is Professor of Global Development Policy and Director of the Global Development Policy Center at Boston University.
Richard Kozul-Wright is Director of the Division on Globalization and Development Strategies at the United Nations Conference on Trade and Development (UNCTAD).
Summary
After the 2008-9 global financial crisis, reforms to promote stability, social inclusion, and sustainability were promised but not delivered. As a result, the global economic situation, marred by inequality, volatility, and climate breakdown, remains dysfunctional.
Now, the economic fallout from the Covid-19 pandemic offers us a second chance. Kevin Gallagher and Richard Kozul-Wright argue that we must grasp it by implementing sweeping reforms to how we govern global money, finance, and trade. Without global leaders prepared to boldly rewrite the rules to promote a prosperous, just, and sustainable post-Covid world economic order - a Bretton Woods moment for the twenty-first century - we risk being engulfed by climate chaos and political dysfunction.
This book provides a blueprint for change that no one interested in the future of our planet can afford to miss.
Report
"The world economy desperately needs a new deal. Few, if any, analysts are better placed to describe the transformation required than Kevin Gallagher and Richard Kozul-Wright."
Dani Rodrik, Harvard University
"If the Bad Samaritans of global governance really want to turn a page and build back better from the Covid-19 crisis they could find no better place to start than by dipping in to this punchy volume."
Ha-Joon Chang, University of Cambridge
