The global economy needs global regulation

Only fools and faith-driven free-market ideologues accept the notion that banks and financial markets should be unfettered by regulation. We have accepted the ‘inevitability’ of a global economy, so it is reasonable and logical to have an efficient and effective global regulatory framework.

This is the enormous challenge facing the G20 summit. Of course, achieving such a framework will be the hard part, but hopefully we will see the recognition that an effective global regulatory framework is the way forward.

Filed under: Big Picture, Economics, G20