Nobel Prize laureate Joseph Stiglitz | A new global order: on post-neoliberal globalisation...There is evidence of increasing monopoly and monopsony power.

 

10,732 views Streamed live on Sep 28, 2023

Join Joseph Stiglitz as he explores a new multilateralism that differs from the current neoliberal framework, offering an alternative basis for global cooperation. Recent years have dealt a fatal blow to the international economic order based on neoliberalism that has prevailed for the last half century. Economically, growth has been slower and inequality higher than earlier. The 2008 financial crisis exposed the instability of the system, the pandemic, with vaccine apartheid, showed that borders do matter, and the post-pandemic inflation demonstrated the market’s lack of resilience. There is evidence of increasing monopoly and monopsony power. With the United States refusing to allow the appointment of appellate judges at the World Trade Organization and with its new industrial policies running roughshod over principles of a level playing field, the rules-based international trading system is in shambles, with a new geopolitics dividing the world into blocs, and countries de-risking their trade and financial systems. Yet, climate change and pandemics require global cooperation. This talk explores a new multilateralism, an alternative to that based on neoliberalism, which might provide the basis of that cooperation, one that in key ways looks markedly different from the current global regime. Scientific Organiser(s): Professor Giancarlo Corsetti (European University Institute) Glenda Sluga (EUI) Speaker(s): Prof Joseph Stiglitz (Columbia University)

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