By Nicholas Boyle
Top Cambridge public highbrow argues for fiscal, political reform if the dire occasions on the beginning of the 20 th century aren't to be repeated. a brand new global trouble is already looming. by means of the center of Obama's moment time period, or of the 1st time period of his, most likely Republican, successor, America's legacy to the twenty first century might be determined. Will or not it's a century of climatic catastrophe and battle? The roots of the current main issue lie in an unbalanced globalization which has didn't fit financial with political integration. fake types of nationhood, markets, and empires have hindered the improvement of world governance. those illusions in flip are a part of the ideology of yank exceptionalism. If human civilization is to outlive the twenty first century, that ideology should collapse to a extra sensible popularity of supranational professionals, and particularly of an improved IMF and WTO. The banking cave in of 2007-8 demands a revived knowing of the interdependence of politics and economics. The self-images of countries have misplaced contact with the realities that be sure our lives: it's the international order that now offers us our id and by myself can safe our collective destiny.
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Additional info for 2014: How to Survive the Next World Crisis
It is the international domain which is nowadays the home of some of the most important structures that enable, condition and protect our collective lives: trade, capital, information, and for a signiﬁcant and increasing number 41 2014 work itself; consumer goods provided, and even public services staffed and owned, by multinational companies; and military forces equipped by foreign powers and largely deployable only in concert with them. How weak nonetheless are the strictly governmental functions at the international level – the maintenance of peace, and of the integrity of the medium of exchange, and the prevention of starvation – the history of the last 20 years shows only too well.
For all three of them autarky and isolationism seemed conceivable political options, provided the underlying centuries-old logic of globalization was ignored and the extent to which their prosperity, or their hope for it, was dependent on their involvement in the global economy. But of course globalization cannot be ignored. The crisis that began in 2007 has at least the merit of demonstrating beyond question the interdependence even of the economic giants of the twenty-first century. It has also demonstrated the absence of a conceptual and institutional framework capable of representing and regulating their relations with each other and the more fragmented world of Latin America, Africa, the Middle East and Southeast Asia, or the relations of these powers among themselves.
During that same period, however, the proportion of the world population in extreme poverty, as deﬁned by the World Bank, has been steadily declining, from about 85 per cent in 1820 to 75 per cent in 1870 to 24 per cent in 1992. There are obviously serious difﬁculties in establishing accurate and complete ﬁgures, but the trend is quite unambiguous. The proportional decline has been continuous and uninterrupted, though the rate slowed dramatically in the peak protectionist years of 1929 to 1950.
2014: How to Survive the Next World Crisis by Nicholas Boyle