Trade, Money, and Finances
For a World Citizen Movement
People-centered Global Governance: Making It Happen!
Proposals for a New World Governance
Decent Work as a Goal for the Global Economy
The World March of Women Third International Action
Dialog of Chinese, European, and South American Civil Societies at Rio+20
Final Declaration "Linking Alternatives 2"
Civil Society and the Legitimation of Global Governance
Education International’s Response to the Global Monitoring Report 2006 on "Literacy for Life"
Campaign for People’s Goals for Sustainable Development
The IMF, the World Bank, and Respect of Human Rights
Setting up an Arbitration Tribunal on Debt: An Alternative Solution?
Territories and Globalization: The Stakes of Development
How to break out the system trap. A model to support conversations for a more strategic activism.
Building Consensus on Food Safety Programs among Consumer and Public Health Organizations
The Commons, the State and Transformative Politics
FASE’s Commitment to a Sustainable and Democratic Amazonia
Alterglobalization, a Long-term Process Leading to Alternatives
A Proposal for Governance in the Post 2011 World
Persistent corruption in low-income countries requires global action
Does Global Governance Ensure That the Global Public Interest Is Served?
China Sustainable Development Strategy Report 2011. Greening the Economic Transformation
The Armed Forces and World Governance
The Emergence of Global Administrative Law
The UN Reform and the Alterglobalization Movement
Thirty years of Habitat I: no more neoliberal model of cities!
Negative Growth or Sustainable Development?
Now is the time to rediscover John Maynard Keynes’s revolutionary ideas for the organization of international trade and adapt them to re-balance finances in the world’s economies of the twenty-first century.
The economist John Maynard Keynes came to the postwar table with an innovative project for the future of world trade, which he called the International Trade Organization (ITO), supported by an international central bank, the International Clearing Union (ICU). The ICU was meant to issue a world currency for trade, the "bancor." Why the ITO and the ICU never materialized, and what would have changed if they had, is a sobering story from which we have a lot to learn.
It tells us that, in a rational world, it would be possible to build a trading system serving the needs of people in both the North and the South. With an ITO and an ICU, we could have had a world order in which no country could run a huge trade deficit (the US deficit stood at $716 billion in 2005) or the huge trade surplus of contemporary China.
Under such a system, crushing the third-world debt and the devastating structural-adjustment policies applied by the World Bank and the IMF would have been unthinkable, although the system would not have abolished capitalism. If we could resurrect Keynes’s concept, another world really might be possible: he figured out how to make it work more than 60 years ago. His plan would have to be dusted off and fine tuned, but its core remains relevant.