Suppose that the world’s leading policymakers were to meet again in Bretton Woods, New Hampshire, to design a new global economic order. They would naturally be preoccupied with today’s problems: the eurozone crisis, global recovery, financial regulation, international macroeconomic imbalances, and so on. But addressing these issues would require the assembled leaders to rise above them and consider the soundness of global economic arrangements overall.
Here are seven commonsense principles of global economic governance they might agree on.
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design." Friedrich Hayek
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I am interested on how this would turn out, all our leaders need to stop fighting and come up with a resolution!
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These are good proposals. They leave certain questions unanswered such as: How much should democratic countries trade with non democratic ones?
But they are good starting point for a reassesment of "globalization".
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