The global economic system is in dire need of an overhaul | Al Jazeera

CEID Faculty Dr. Kevin Gallagher wrote this opinion piece with Richard Kozul-Wright. They say, in part:

“The global multilateral economic system has been stress tested twice this century. The first time was with the 2008 global economic meltdown; the second – with the COVID-19 pandemic.

And the results are not good. While more than six million lives have been lost across the world, a deteriorating climate has continued to exact a further toll on lives and livelihoods, and 100 million people have been pushed back into poverty by the crisis, a new billionaire has emerged every day of the pandemic. The system of global economic governance appears increasingly bewildered and hamstrung by the challenges of the 21st century…”

Read the full opinion here.