The Case for a New Bretton Woods

The Case for a New Bretton Woods
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Описание книги

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.

Оглавление

Kevin P. Gallagher. The Case for a New Bretton Woods

CONTENTS

List of Illustrations

List of Tables

Guide

Pages

The Case For series

The Case for a New Bretton Woods

1 The Fierce Urgency of Now: The Case for a New Bretton Woods Moment

The Takeaways from Bretton Woods 1.0

From Managing Capitalism to Enabling Capital

Rewriting the Rules of the International Economic Order

2 The Origins and Antinomies of the Multilateral System

The Inter-War Years: From Reglobalization to Building Back Worse

Internationalizing the New Deal

The Tempering of New Deal Multilateralism

The Strange Rebirth of the Liberal International Order

3 Building Back a Better International Monetary and Financial System

The Breakdown of the International Monetary System

Holes in the Safety Net

Reforming the International Monetary System

Regulating capital for development and climate goals

Expanding the scale and coverage of the GFSN

Expand and reform the crisis-fighting toolkit

Reform governance and global cooperation

4 Re-aligning the Trade and Investment Regime

From Global Prosperity to Global Deregulation

From Small Gains to Big Risks

Aligning the Trade and Investment Regime

Democratize the trading system

Make trade agreements about trade again

Preserve the right to regulate

Make parallel investments, standards, and adjustment assistance

5 Catalyzing Development Finance

The Re-emergence of Development Finance

The Limits of the Global DFI Regime

Lack of scale and coverage

Poor development performance, but signs of change

Lack of good governance and coordination

A Reform Agenda

Scale Up Development Finance

Aligning DFIs with Shared Goals

Global Cooperation and Governance

6 Crises, Reform, and Countervailing Power

Bibliography

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Louise Haagh, The Case for Universal Basic Income

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Figure 1.1 The Elephant Curve: Global Income Distribution and Real Income Growth, 1980–2016

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