The Architecture of World Governance
The UN Reform and the Alterglobalization Movement
Setting up an Arbitration Tribunal on Debt: An Alternative Solution?
Dialogs on Party Systems and Global Democratization
Rethinking Global Governance
For a Legitimate, Efficient, and Democratic Global Governance
Redefining Global Governance to Meet the Challenges of the Twenty-first Century
Structure of Global Governance: Explaining the Organizational Design of Global Rulemaking Institutions
The UN and World Governance
The UN: Which Reforms for What Future?
From Westernization to Globalization. A Brief History of Chinese Modernity
Moving Toward a New World Governance
Forging a World of Liberty under Law: US National Security in the Twenty-first Century
Kicking the Habit: The World Bank and the IMF Are Still Addicted to Attaching Economic-policy Conditions to Aid
The Challenge of Environmental Governance
The Bamako Appeal
FASE’s Commitment to a Sustainable and Democratic Amazonia
Biocivilization for the Sustainability of Life and of the Planet - Workshop
Nairobi World Parliamentary Forum Resolution
Alternative World Water Forum
Beyond the Growth Paradigm: Creating a Unified Progressive Politics
Sustainable Forest Management
What Amazonia Does the World Need?
Negative Growth or Sustainable Development?
Civil Society’s Impact on the Multilateral Sphere: Lessons Learned and Future Directions
When World-regulation Experts "Play" the Regions ...
A new historical moment?
Rio+20: Failed Diplomacy, Feeble Democracy
Bringing the Violence of War under Control in a Globalized World
An Ecological Act: A Backgrounder to the National Rural Employment Guarantee Act (NREGA)
A World Alliance against Social Apartheid
The State of the Right to Education Worldwide: Free or Fee
Digital Publishing in Developing Countries
Another Future Is Possible
Extreme Poverty and World Governance
WGI: World Governance Index (2009 Report)
Proposal for a Charter of Universal Responsibilities
The World Governance Index (WGI)
The problems with global governance—and the consequences of these problems— today
are becoming better understood. The closer integration of the countries of the world—
globalization—has given risen to a greater need for collective action. Unfortunately,
economic globalization has outpaced political globalization. We are just beginning to
develop an international rule of law, and much of the ‘law’ that has developed—for
instance the WTO rules governing international trade—are grossly unfair; they have been designed to benefit the developed countries, partly at the expense of the developing
countries. We approach international issues in an ad hoc, piecemeal manner.
After analyzing the current state of the global institutions, and identifying the current forces for change, the author establishes a 8 points list for a possible global reform.
The institutions that do exist have undemocratic governance, and suffer from
‘smokestack syndrome.’ A single country, for instance, has effective veto at the IMF;
votes are allocated on the basis of economic power, and not even based on current
economic standing.2 Even though the policies of the IMF (or other international
economic institutions) have enormous implications for many aspects of society—for
education, health, or the environment, it is only the finance ministers and central bank
governors that have a direct say. By contrast, within western democracies, when
important economic issues are being discussed, typically all of those who are affected
have a voice in the decision, even if some voices are stronger than others. Today, few
democracies limit voting to those with property, or apportion voting rights on the basis of
After giving an idea of the undemocratic nature of the International Institutions nowadays, Stiglitz analyzes in this clear-minded essay, which are actually the current "forces for change", from the self-interested motives and the need of mutual cooperation, to the need of recognition of a rule of law and the democratic forces. In a late section the author proposes a list of reforms concerning the International Institutions internal organization and external role in the framework of the global governance architecture. He also deals with global taxation, the management of global resources and the environment, the production and protection of global knowledge, and the need for a Global legal infrastructure.
Source (direct link): IPD Web Site - Columbia University
Citation: Stiglitz, Joseph. E. (2004; The Future of Global Governance; Initiative for Policy Dialogue (IPD); IPD Working Paper.