Amid the economic gloom, at least one business is booming this year – conferences on the crisis of capitalism.
This week, a host of policymakers and economists – including four heads of state or government and three Nobel prize-winning economists – descended on Paris to debate how to stick the shattered world economy back together again. A flurry of similar meetings is taking place in advance of the Group of 20 summit in London in April, which aims to redesign global governance.
Already, several themes are becoming commonplace. First, the excesses of the financial sector must be directly tackled through smarter, tougher, global regulation extended to all institutions that pose a systemic risk.
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