As the G-20 meeting of finance ministers starts in Cairns, Australia, the Legion of Gloom is at it again, claiming that the system of global governance structures ranging from the WTO and the G-20 to the major central banks is in desperate need of repair. In fact, the global economic order has worked remarkably well since 2008.
MEDFORD, MASSACHUSETTS – As the latest G-20 meeting of finance ministers starts in Cairns, Australia, the Legion of Gloom is at it again. Their conventional wisdom is that “the system” – global governance structures ranging from the World Trade Organization and the G-20 to the major central banks – is badly broken and in desperate need of repair. In fact, the global economic order has worked remarkably well since 2008.
MEDFORD, MASSACHUSETTS – As the latest G-20 meeting of finance ministers starts in Cairns, Australia, the Legion of Gloom is at it again. Their conventional wisdom is that “the system” – global governance structures ranging from the World Trade Organization and the G-20 to the major central banks – is badly broken and in desperate need of repair. In fact, the global economic order has worked remarkably well since 2008.