“Capitalism in crisis” goes out the cry in Europe and North America. These old-fashioned debates about inequality in wealthy economies fail to connect with the real issues of the modern world.
While the Durban climate conference struggles to compromise on even the most trivial detail, the world’s great powers cooperate seamlessly in saving the financial system, again.
Remember those years when rich countries imposed tough conditions on Africa for debt relief? Now the tables are turning.
Yesterday’s panic in the financial markets has conjured a repeat of that sense of things falling apart – with no answers ready from any quarter.
A scandal of global inequality will unfold over coming weeks as investment banks declare their results. Without our taxes, there would have been no bonuses.
The international NGO movement missed crucial opportunities in the global financial crisis. New leadership is needed to restore its position in the political process.
Climate change and food security negotiations are stumbling over the reluctance of rich countries to stump up the costs. They have thrown all their resources at a bunch of bankrupt banks.
Economic troubles have dominated 2009. The Trento Festival of Economics therefore enjoys pole position in the European festival season. Its imaginative programme Identity and Global Crisis addresses questions affecting us all.