Synthesis Report on the E Forum on International Regulations
This synthesis report presents the various papers written by participants in the International Regulations Workshop and attempts to draw out the key points and recommendations of each paper and the agreements and disagreements that emerged in the exchange.
The contributions to the International Regulations Workshop’s e-forum on international regulations come from a radically different perspective than the desire to save or improve the current system of global capitalism: how to protect people from the ravages of a global market driven by corporate profitability. The « disembedding » of the market from its social matrix, to use the language of the great Hungarian scholar Karl Polanyi, is, in the view of the authors of the contributions, the central cause of the inter-linked crises of our time. And the key problem with which each of the authors grapples is how the market and its key agents-the corporations, the multilateral institutions, and hegemonic governments-can be resubordinated to society. The proposals for change, then, that come from these contributions cannot help but challenge the fundamental dynamics of the global capitalist system.
An incisive critique of and proposal for the Asian Development Bank.
Guttal Shalmali, February 2005
A proposal to replace the Bank with a substantially shrunk global institution that makes long-term, low interest loans but is more democratic and transparent, among other changes.
Robin Broad, February 2005
A proposal for a radically disempowered IMF, turned into just another actor co-existing with and being checked by other international organizations, agreements and regional groupings. De los Reyes and Bello argue for international regional institutions to supplant the IMF as a regulator of global finance.
Walden Bello, August 2005
A proposal on regulating corporate behavior through public institutions at the international level.
Sarah Anderson, March 2005
A text on the Currency Transaction Tax (CTT), the problems raised as regards its feasibility and possible solutions.
David Hillman, January 2005
An assessment of the role and impact of the WTO and its failure to address the needs of developing countries.
Aileen Kwa, June 2005
A proposal for a new international financial architecture with an International Board of Arbitration for Sovereign Debt.
Oscar Ugarteche, March 2005