Tagged: market economy

Local and Global

I was recently invited to contribute to an Australian magazine about the relationship between local and global, where I addressed the false choice between the two that can often undermine social activism.

To behave sustainably, so the three divergent interests of business, society and environment are maintained in balance, markets need governance!  Moreover, it doesn’t take a rocket scientist to realise that, to be effective, governance has to be on the same scale as the market it’s trying to govern. A global economy needs global governance. Absent that governance, it shouldn’t surprise us that the market runs riot, goes pathological, and causes all sorts of negative fall-out, much of which is increasingly felt in local communities. This isn’t some crack-pot call for world government. Rather it’s simply a call to practical global cooperation: that nations need to coordinate their policies so that they achieve global coverage and global effect.

Read the full piece on their website.