The Economist has attributed the term "deglobalisation" to Walden Bello. Whilst the magazine considers the term a negative one, Bello argues that it is fast becoming a reality and offers a paradigm for escaping the neoliberal straitjacket.
The government isn't prepared to face the contradictions of a policy that takes over and nationalises enterprises from inefficient and corrupt owners at taxpayers' expense, yet then seeks to restore the same companies to the same corrupt private hands.
In 2006–08, food shortages became a global reality, with the prices of commodities spiraling beyond the reach of vast numbers of people. International agencies were caught flatfooted, with the World Food Program warning that its rapidly diminishing food stocks might not be able to deal with the emergency.
Some Key Points for Member Groups of the Our World Is Not For Sale Network [OWINFS] at the United Nations Conference on the World Financial and Economic Crisis and its Impact on Development, June 22-24, 2009.
"All for ourselves and nothing for other people seems in every age of the world to have been the vile maxim of the masters of mankind," said Adam Smith in The Wealth of Nations. Either we learn to keep the market but eliminate the rapacity and environmental destructiveness of globalised capitalism or it will destroy us.