Economic system

Gallagher discusses new book on overhauling the global economic system

In an interview with Boston University The edgeKevin GallagherProfessor of Global Development Policy at BU’s Frederick S. Pardee School of Global Studies and Director of BU Global Center for Development Policy (GDP Center), talked about his new book – The case for a new Bretton Woods – and the need to overhaul the global economic system.

Gallagher’s book, co-authored by Richard Kozul-WrightDirector of the Division of Globalization and Development Strategies at the United Nations, advocates for the overhaul of outdated global economic systems that fuel poverty, inequality and climate change. It offers a number of key recommendations for sweeping reforms, including reorienting trade rules towards low-carbon investments, fairly supporting massive green industrialization and promoting a more prosperous and sustainable global economy for the 21st century.

The edge spoke to Gallagher about his vision for a new Bretton Woods and why he thinks major reforms are needed now more than ever.

An extract:

How do you hope the book helps bring the world up to speed since 1944?

As academics, we did this research, we looked at this system, and we thought it was our job to take this evidence-based research and say it was time to start this conversation, because that nobody really called for a whole reboot. Some leaders have asked for it here and there, but we wanted to put the blueprint in place and start a global conversation about getting it really right. We could have another pandemic one day, we could have another global financial crisis, and we’re in the middle of the climate crisis, so we’ve all realized that this system doesn’t prevent those crises.

The full interview can be read at The edgethe website of.

Kevin Gallagher is Professor of Global Development Policy at the Frederick S. Pardee School of Global Studies at Boston University, where he directs the Global Development Policy Center. He is the author or co-author of six books, the most recent of which, The Chinese Triangle: The Chinese Boom in Latin America and the Fate of the Washington Consensus. Learn more about Professor Gallagher on his school Pardee faculty profile.

Gallagher discusses new book on overhauling the global economic system

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Tagged: 2022, Bretton Woods Project, Climate Change, GDP Center, Global Development Policy Center, global economy, Kevin Gallagher, The Brink