G20

60-Second Expert: Fighting Finance

Many economic justice activists felt intimidated by the complexity of the Third World debt crisis in the 1980s and overwhelmed by the intricacies of the World Trade Organization in the 1990s. Now people are facing a confounding global financial catastrophe, and though we certainly need more activist education on the workings of financial markets, it’s remarkable to see how much progress civil society has made since the 2008 crash.

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China: Already on Top?

“The Communists have taken over the World Bank!” So far, this phrase hasn’t appeared on Glenn Beck’s infamous chalkboard. I’m still waiting for Beck or Rush Limbaugh to make a big stink that the World Bank’s chief economist is from Mainland China. Justin Yifu Lin has been in his position for more than two years and the right-wing crazies have been largely silent. Maybe they’re too busy attacking their fantasy version of President Barack Obama – the Muslim/elitist/socialist-in-chief – to pay much attention to what’s going on in the real world.

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Fighting Finance from Below

Fighting Finance from Below

At the onset of the Third World debt crisis in the 1980s, many economic justice activists were afraid to engage on the issue because they felt it was just too complicated.  Then, in the 1990s, the hot issue was trade. And again, many people thought, “I’ll never understand the World Trade Organization.”  But eventually, in both of these cases, large numbers of people bit the bullet and learned enough to have a voice in these debates.  And they built strong movements for debt and trade justice that continue today.

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Hummer Rules

Anti-government rhetoric is all the rage these days. And “rage” is the operative word here. Small-government enthusiasts are like the drivers of Hummers incensed at all the difficulties they encounter on the roadway — pesky speed limits, red lights, construction-related delays. Fuming at these restrictions on their liberty, they suddenly have a profanity-laced meltdown and take it out on those around them.

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Our Global Senate and Its Flaws

Our Global Senate and Its Flaws

They used to be seven. They embodied power and relished it. Other leaders envied their photo ops. They were the cream of the cream, the top of the top. They were the G7

And now they are 20, and they meet in Toronto this week. The G20 is the Senate of our global government. It sets global economic policy, giving direction to an alphabet soup of global executive agencies, from the International Monetary Fund (IMF) to the Organization for Economic Cooperation and Development (OECD).

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