Democratising Globalisation’s Demons (Part 1 of 2)

Very interesting

The Daily Opium

The following paper draws on a comparative analysis of two essays written by Joseph E. Stiglitz: The Future of Global Governance (written in 2004 for a conference in Spain; referred to as the “Barcelona” paper) and Democratizing the International Monetary Fund and the World Bank: Governance and Accountability.

First of two parts.

Mural at a labour day protest in Manila, Philippines. (Photo by CJ Chanco)
 The international labour movement has historically been at the forefront of alter-globalisation protests, challenging mainstream notions of capitalist development with the “neoliberalism turn’s” ever greater assaults on the working class at the turn of the century.

In one of the most celebrated critiques of the flagship institutions of neoliberal globalisation ever penned, the Nobel prize-winning economist Joseph Stiglitz (2004) makes his point clear at the start of his Barcelona paper: “Unfortunately, economic globalization has outpaced political globalization. We are just beginning to develop an international…

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