Dr. Pedro Paez talks about the creation of a new financial architecture in Latin America, based on principles of redistribution, environmental sustainability and social cohesion rather than market principles that dominated the old architecture.
Free trade or slave trade? How the EU's free trade agreements in Colombia and Peru reward human rights abuses, destroy livelihoods, promote land grabbing and strip governments of their sovereignty to regulate capital flows.
Neoliberal market capitalism has dragged the world into a crisis which threatens human civilisation. Climate destruction, resource wars, and the replacement of democracy by an oligarchy face us if we don't act now to reduce the burden we place on our planet and reorganise society on a more egalitarian basis.
The United Kingdom is home to a particularly influential services industry lobby, which operates through an organisation called International Financial Services, London (IFSL). Two IFSL working groups, the Liberalisation of Trade in Services (LOTIS) Committee and the High-Level LOTIS Group, constitute a veritable corporate-state alliance.
Behind the currency wars and the worsening global economic crisis lies a largely unquestioned free trade model that both contributed to the crisis and, without radical reform, is a major obstacle to overcoming it.
The term crisis implies a short lived period of uncertainty - suggesting there is something temporary or anomalous about the current state of the global economy. On the contrary, our global economy, from the financial clouds (or bubbles) to the real roots - where men and women work, live and survive - is suffering from systemic flaws based on an ever expanding void between rich and poor.
The WTO's General Agreement on Trade in Services (the "GATS") has very much underpinned expansion without regulation and supervision, so the financial corporations had the guarantee that their expansion would be underpinned. But financial services are not the same as other services – they need special supervisory structures.
Despite repeated democratic rejection of the Lisbon Treaty, the European Commission pushed ahead with it via the EU Constitution via a private, technocratic and non-democratic process. Susan discussed the treaty and its implications in a workshop at the EA4 summit in Madrid, 15 May 2010.
"The banks are ours!" Public money was used to bail out the banks, and now they are lending back to the public at interest, while governments ignore the social and environmental crises that confront society. It is time to demand real solutions that will work not only for the sake of the economy but for the lives and conditions of people on whom it depends.
Susan George appeared on the major French radio network France Inter to debate the financial crisis and regulation. Her most recent book "Their Crises, Our Solutions" has been published in French ("Leurs Crises, Nos Solutions"); the English version is due to be published in September.
China's fast growing capital expansion within South East Asia is raising concerns about landgrabs and exploitative practices, especially as it is often aligned with support for authoritarian regimes such as Burma.
In a recent editorial comment, The Economist issued a solemn call to all believers in global capitalism not to despair, not to panick, and to do nothing that could endanger the capitalist system (October 18-24, 2008). The magazine invoked the words and spirit of its founder, the Scottish businessman, James Wilson, who, about 165 years ago, gave the paper the philosophy of "economic liberty".