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The trouble with the global economy - the United Nations’ lost role and democratic reform of the IMF,World Bank and the World Trade Organisation

> Nef, September 2000, 32pp., PDF (...)

This report argues that democratic reform of institutions like the World Bank, IMF and WTO is crucial to creating a more accountable and representative system of global governance: a system necessary for tackling the problems that the evolution of globalisation has thrown up (environmental degradation, an unstable and turbulent global economy, increasing inequalities, etc). This includes recognising the legitimate authority of already existing representative bodies and international agreements, which have been arrived at by more democratic means, as well as new ways of connecting society with these institutions (such as citizen’s juries). The report draws on the progress of the European Union as an example of what can go wrong in the building of broad-based economic governance and how this can be avoided. Written at the time of “Charter 99” (a campaign for UN reform and a charter for global democracy), it outlines the key challenges, broad themes for reforms, and the precise need for accountability.  read

date of on-line publication : 11 January 2006

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