The Globalist’s “Reforming Global Finance” presents essays and analyses by experts in the fields of economics, financial markets and financial governance.
The essays in the series point the way forward to a global financial system that is more transparent, accountable and effective by alerting a global audience of experts and non-experts alike to the relevance of financial reform to their own lives and futures.
The series — which consists of 103 essays published between April 2012 and December 2013 — was supported by a grant from the Ford Foundation.
By Luis Ubiñas, President, Ford Foundation
How can the global financial regulatory system be restructured so it works as well for Main Street as it does for Wall Street?
By Arun Maira, Member, Planning Commission (India)
In the battle between governments and markets, can global problems be solved by localization, lateralization, learning and listening?
By Yanis Varoufakis, Economist, National and Kapodistrian University (Greece)
Can Europe find away to resolve its debt crisis even though it is clearly not ready to form a federal structure?
By Jonathan Anderson, Founding Partner, Emerging Advisors Group
Could Egypt’s economic and financial problems be even worse than the political ones?
By Esther L. George, President of the Federal Reserve Bank of Kansas City
What steps can be taken to build a financial system that is better able to withstand future crises?
By Thomas Fricke, Columnist, Financial Times Deutschland
Does France really stand to gain much from emulating the German economy?
By Stephan Richter, Editor and Publisher, The Globalist
Which model of corporate governance is doing a better job of striking a balance between the needs of business and the need of society, the U.S.’s or the EU’s?
By Martin Hutchinson, Market analyst and author
Is the current financial landscape too complex for any self-styled J.P. Morgan to master?
By Sanjeev Sanyal, Global Strategist, Deutsche Bank
How can dominant economic powers of their time use their currencies to gain cheap financing from abroad?
By Daniel Sachs, CEO of Proventus
The Nordic model has been hailed for its social successes. But does it make good economic sense?
By Robert J. Shiller, Economist, Yale University
What can be done so that financial capitalism is a source not of disasters, but of true human progress and democratization?
By Robert J. Shiller, Economist, Yale University
Who still remembers that, before the advent of modern financial capitalism, power was wielded in much starker ways?
By Branko Milanovic, Lead Economist, World Bank
Why do people who consider themselves pro-free market take radically different positions on the mobility of capital and labor?
By Ravi Menon, Managing Director, Monetary Authority of Singapore
What must a government consider when undertaking a critical intervention in financial markets?
By Stephen S. Roach, Former Non-Executive Chairman of Morgan Stanley Asia
Can China successfully shift from export-led to consumer-driven growth? Can the United States learn to save?
By Louis Hyman, Economist, Cornell University
What’s “patriotic” about cutting taxes for the rich — and “empowering” the middle class by letting it pile up mountains of debt?
By Ravi Menon, Managing Director, Monetary Authority of Singapore
What can governments do to seize the opportunities of globalization, while minimizing its downsides?
By Ravi Menon, Managing Director, Monetary Authority of Singapore
Does the world need more markets, more government, or does it just need markets and government to be more effective?
By Ravi Menon, Managing Director, Monetary Authority of Singapore
Are social safety nets inherently incompatible with market-based incentives to work and save?
By Holger Schmieding, Chief Economist, Berenberg Bank
How justified are claims by Chancellor of the Exchequer George Osborne that the eurozone crisis is killing Britain’s economic recovery?
By Stephan Richter, Editor and Publisher, The Globalist
Will Francois Hollande choose to make France like Germany or to make France like Italy?
By Daniel Sachs, CEO of Proventus
Has Scandinavia’s emphasis on fairness and social cohesion made its economies more resilient to Europe’s crisis?
By Stephan Richter, Editor and Publisher, The Globalist
How does Germany see its role, and what are its real intentions and specific plans, with regard to saving the euro?
By Meghnad Desai, Former Professor of Economics, London School of Economics
Why is the current economic crisis in Europe and the United States likely to be unresponsive to Keynesian solutions?
By Richard Duncan, Chief Economist, Blackhorse Asset Management
Is paper money created by the world’s central banks responsible for the “global imbalances” that destabilized the economy?
By Robert J. Shapiro, Chairman of Sonecon, LLC
Could the LIBOR scandal become the biggest financial fraud in history?
By Ian Johnson, Secretary-General, Club of Rome
Did Barclays Bank executives engage in fraud to boost the bank’s market valuation — or because they lacked simple values?
By Robert and Edward Skidelsky, Authors of “How Much is Enough? Money and the Good Life”
How did mid-century concerns about how economic gains were distributed throughout society give way to today’s crisis-prone, Darwinian capitalism?
By Dennis M. Kelleher, President and CEO of Better Markets, Inc.
Why should derivatives be moved out of the dark of over-the-counter markets into the brighter light of exchanges?
By Dennis M. Kelleher, President and CEO of Better Markets, Inc.
Are financial industry complaints about the alleged costs of regulation justified? Or does history prove they are without merit?
By Adair Turner, Chairman, Financial Services Authority (UK)
Why do economists — and the policymakers who heed their advice — need to reconsider the conventional wisdoms of their profession?
By Adair Turner, Chairman, Financial Services Authority (UK)
Financial systems play an important role in economic growth. Why, then, do they sometimes go off the rails?
By Stephan Richter, Editor and Publisher of The Globalist
What is it about U.S. and UK financial and foreign policy elites that has them engage so willingly in excessive risk-taking?
By Henry Kaufman, President, Henry Kaufman & Company
Are the current monetary tactics of Western central banks analogous to dosing a patient with steroids?
By Henry Kaufman, President, Henry Kaufman & Company
Has increasing financial concentration improved the economic function of finance — the effective allocation of credit?
By Martin Hutchinson, Market analyst and author
How did mathematicians and traders, working hand in hand, find ways to take larger risks than banks officially contemplated?
By H. Woody Brock, President, Strategic Economic Decisions
Do economists have the right analytical tools to solve our most pressing problems?
By Holger Schmieding, Chief Economist, Berenberg Bank
Why doesn’t the European Central Bank act more like the Fed in its approach to the economic crisis?
By Stephan Richter, Editor and Publisher, The Globalist
Can China’s market-building approach to Africa complement the West’s tradition democracy-building approach?
By Dennis M. Kelleher, President and CEO of Better Markets, Inc.
Will the costs of the financial crisis limit the government’s ability to deal with future crises?
By John Prout, Executive Director, Foundation for Fund Governance and Stephan Richter, Editor and Publisher of The Globalist
Why is it taking so long to write and implement new U.S. financial reform regulations?
By John Prout, Executive Director, Foundation for Fund Governance
What will it take to wind down the era of Too Big to Fail banks and financial institutions?
By Robert D. Atkinson, President, Information Technology and Innovation Foundation
Why would a European CEO be “shunned” if he moved much of his production to China?
By Nancy Birdsall, President, Center for Global Development
How can global citizens and international institutions create the conditions for inclusive and sustainable economic growth?
By Diane Coyle, Economist and author
What policies should governments focus on to ensure that future generations live at least well as the current generation?
By Frank Vogl, Co-Founder of Transparancy International
How can transparency help end the fleecing of resource-rich countries by their corrupt leaders?
By Thomas Mayer, Senior Fellow, Center of Financial Studies, Goethe University Frankfurt
Can the eurozone successfully model its monetary and fiscal community on the U.S. political regime of the 19th century?
By Richard Duncan, Chief Economist, Blackhorse Asset Management
Can the United States transform its consumption- and credit-based economy to one based on investment and saving?
By Branko Milanovic, Lead Economist, World Bank
Globalization has radically changed the dynamics of global income growth. So who has won and who has lost?
By Dennis M. Kelleher, President and CEO of Better Markets, Inc.
What are the potential costs if Wall Street is successful in weakening the Dodd-Frank financial regulations?
By The Globalist
The $600 billion of total income of the world’s poorest 1.3 billion people is equal to the income of what percentage of the richest Americans?
By Stephan Richter, Editor and Publisher, The Globalist
The global balance of economic power is changing — and the IMF is changing right along with it.
By Martin Sieff, Contributing Editor, The Globalist
How did the U.S. election of 1980 and the British election a century prior lay the groundwork for each country’s decline?
By Dennis M. Kelleher, President and CEO of Better Markets, Inc.
Wall Street lost its bid to unseat President Obama. Now it should get onboard with sensible regulation and oversight.
By Chrystia Freeland, Digital Editor, Thomson Reuters
Why have Americans been so tolerant of the rising gulf between rich and poor?
By Thierry Vissol, Special Adviser for Media and Communications, EC’s Representation in Italy
Is the euro crisis just a European crisis — or is it a global crisis in search of a global governance solution?
By Peter Goldmark, Columnist for Newsday, and David De Ferranti, President, Results for Development Institute
Are international financial institutions helping or hindering the switch to clean energy technologies?
By William H. Janeway, Managing Director, Warburg Pincus
Can the United States muster the economic insight and political will to step into the 21st century world of energy?
By Barry Herman, Visiting Senior Fellow, Graduate Program in International Affairs, The New School
Can the fragmentary and chaotic process of resolving sovereign debt crises be made fairer and more effective?
By Hedrick Smith, Author and Documentary Filmmaker
Why has the American Dream slipped out of reach of much of the middle class?
By Hedrick Smith, Author and Documentary Filmmaker
How has the American middle class fared under Presidents Bush I, Clinton, Bush II and Obama?
By Uwe Bott, Principal, Bott Consulting, and Contributing Editor, The Globalist
What’s the historical background of Congressional negotiations over domestic debt?
By Gurcharan Das, Author, columnist and Indian business executive
How could a nation become the world’s second fastest growing economy despite a weak, flailing state?
By Gurcharan Das, Author, columnist and Indian business executive
Will the political class of India step up or will the Indians themselves need to reform government and rid it of corruption?
By Anu Bradford, Professor of Law at Columbia Law School
How does Europe exercise world power? Isn’t doing it away from military battlefields a truly modern form of global leadership?
By Stephan Richter, Editor and Publisher, The Globalist
Is the United States’ anti-regulation stance undermining its global power?
By Uwe Bott, Principal, Bott Consulting, and Contributing Editor, The Globalist
Does the United States have a stellar credit record — or is it a nation of deadbeats?
By Thomas I. Palley, Senior Economic Policy Adviser, AFL-CIO
What can be done to make finance serve interests of the real economy?
By Mariana Mazzucato, Professor of Economics, University of Sussex
Will the U.S. lead in technological innovation falter if the government can’t reap some of the rewards from its successful investments?
By Branko Milanovic, Lead Economist, World Bank
Was the second half of the 20th century — when capitalism became closely entwined with democracy — just an unusual interlude?
By Anat Admati, Professor at Stanford University, and Martin Hellwig, Director, Max Planck Institute
Why have bank lobbyists been so successful in stymieing efforts to rein in banking, despite the massive fallout from the global financial crisis?
By Rogerio Studart, Executive Director of the World Bank
Is Latin America’s largest country providing a model for how to reduce poverty in lean budgetary times?
By Uri Dadush, Carnegie Endowment for International Peace, and Kemal Dervis, Brookings Institution
Beyond political frustrations and social distrust, could the present level of gross income inequality also destabilize the U.S. economy in the future?
By J. Eric Smith, CEO, Swiss Re Americas
Can giant insurance companies help small customers in developing countries bounce back from environmental catastrophes?
By Richard Phillips, Senior Index Analyst, S-Network Global Indexes
Is capital itself the only practical force capable of restraining capitalism’s own excesses?
By Martin Hutchinson, Market analyst and author
Is the U.S. Federal Reserve the chief culprit in bringing about the grotesque levels of U.S. income inequality?
By Ian Goldin, Professor of Globalisation and Development, Oxford University
What is the world to do when national governments retreat from global commitments?
By Neil Irwin, Columnist, Washington Post
How did Europe become, in effect, the 13th district of the Federal Reserve system?
By Richard Phillips, Senior Index Analyst, S-Network Global Indexes
Why should real capitalists and long-term investors love quantitative easing?
By Lori Wallach, Director, and Ben Beachy, Research Director, Public Citizen’s Global Trade Watch
Has the Obama Administration’s Pacific trade negotiations violated the President’s pledge to open government?
By Uwe Bott, Principal, Bott Consulting, and Contributing Editor, The Globalist
Why are U.S. regulators (again) failing to take action to prevent a bubble in the U.S. housing market?
By Kevin P. Gallagher, Professor of International Relations, Boston University
Why is China looking more attractive to Latin America than the U.S. for new trade?
By Uwe Bott, Principal, Bott Consulting, and Contributing Editor, The Globalist
Why are Brazil and Turkey both facing mass protests right now?
By Massimo Franco, Political Columnist for Corriere della Sera
Will Pope Francis be able to reform the Vatican Bank?
By Kevin P. Gallagher, Professor of International Relations, Boston University
Are regulators making it easier for Wall Street to return to pre-crash behaviors and export them to the world?
By Lily Fang, Associate Professor of Finance, INSEAD
Does Wall Street have different standards for its male and female financial analysts?
By Stephan Richter, Editor and Publisher, The Globalist
How has Turkey’s prime minister failed to anticipate the social and political changes that accompanied his government’s economic successes?
By Thomas I. Palley, Senior Economic Policy Adviser, AFL-CIO
What can be done to prevent a wave of competitive devaluation of currencies?
By Kevin P. Gallagher, Professor of International Relations, Boston University
Why is it in the world’s best interest for China to go slow on deregulating its financial system?
By Yanis Varoufakis, Economist, National and Kapodistrian University (Greece)
Is Europe stuck in its economic ways because the United States protected it from harsh global realities for too long?
By Stephan Richter, Editor and Publisher, The Globalist
Is it a good idea to make a brilliant man the next U.S. Fed Chairman?
By Frank Vogl, Co-Founder of Transparancy International
What can be done to reduce rampant corruption with resources revenue in Africa?
By Uwe Bott, Principal, Bott Consulting, and Contributing Editor, The Globalist
As investors pull back and commodity prices fall, is a new crisis in emerging markets brewing?
By Kevin Young, University of Massachusetts Amherst, Thomas Hale, Oxford University, and David Held, Durham University
In finance and beyond, how is global cooperation failing from its own prior wins?
By Robert Kuttner, Co-Editor of The American Prospect
Why Germany should show more generosity toward eurozone countries in crisis.
By Marc-William Palen, Lecturer in History, University of Exeter
What are the architects of the Trans-Pacific Partnership trade agreements trying to keep secret?
By Kevin P. Gallagher, Professor of International Relations, Boston University
Instead of pushing for cross-border financial deregulation, the United States should learn from other nations’ safeguards.
By Robert J. Shiller, Economist, Yale University
Do we need to repeat the 19th-century savings bank movement for the 21st century?
By Richard Phillips, Senior Index Analyst, S-Network Global Indexes
Accountability has to be the key underpinning of modern capitalism.
By Bill Humphrey, Assistant Editor, The Globalist
A different case for higher U.S. taxes on the ultra-rich.
By Beat Guldimann, President of Tribeca Consulting Group, and Stephan Richter, Publisher and Editor-in-Chief of The Globalist
What will be the ramifications of a Swiss referendum on executive compensation?
By Kevin P. Gallagher, Professor of International Relations, Boston University
Does allowing India and other poor countries to help farmers and consumers really distort global markets?
By Lori Wallach, Director, and Ben Beachy, Research Director, Public Citizen’s Global Trade Watch
To reform the WTO, the director-general can take a cue from his home nation, Brazil.