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The Wall Street collapse and its implications for Europe and Asia: the view from civil society

Walden Bello
October 2008

The Wall Street meltdown is not only due to greed and to the lack of government regulation of a hyperactive sector - it stems ultimately from the crisis of overproduction that has plagued global capitalism since the mid-seventies. The neoliberal free-market policies, which got us into this mess in the first place, will not provide the answer, argues Walden Bello.

>See the Power Point presentation

The Wall Street meltdown is not only due to greed and to the lack of government regulation of a hyperactive sector - it stems ultimately from the crisis of overproduction that has plagued global capitalism since the mid-seventies. The neoliberal free-market policies, which got us into this mess in the first place, will not provide the answer, argues Walden Bello.

>See the Power Point presentation

Walden Bello

Senior analyst at Philippine think-tank Focus on the Global South, TNI fellow and Akbayan representative in the Filipino Congress.

Author of more than 14 books, Bello was awarded the Right Livelihood Award (also known as the Alternative Nobel Prize) in 2003 for "... outstanding efforts in educating civil society about the effects of corporate globalisation, and how alternatives to it can be implemented." Bello has been described by the Economist as the man “who popularised a new term: deglobalisation.”

Bello predicted the financial crisis several years prior to the current meltdown and is a globally respected figure within the alternative globalisation movement. Canadian author Naomi Klein called him the "world's leading no-nonsense revolutionary."

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