Co-operation Rather than Competition
We need »a new Bretton Woods« to regulate global financial markets – this is the first of 50 Suggestions to a Fairer World, which Christian Felber presented in 2006 in his highly successful book. The main reason for the financial crisis is the decades-long policy of liberalisation and deregulation of markets that came about as a result of pressure from the financial industry – while just three years ago this seemed unbelievable and was the subject of arrogant mockery by CEOs, economists and politicians, it is now accepted as common sense. Christian Felber explains briefly, concisely, and in an easily accessible manner how the situation got out of hand to the point where »capital market campaigns«, the privatisation of pensions and lax lending policies destabilised the economy to such a dangerous extent. He takes a critical look at governments’ fire-fighting actions and presents a step-by-step guide towards an »ideal« regulation of financial markets, including boundaries for inequality, monetary reform, and a »democratic bank«. Finally, the author offers 10 suggestions as to how each individual can make a contribution to ensure that we emerge from the crisis as soon as possible – and united, rather than at odds with each other.