‘Our planet is not balanced. Too few control too much, and too many have too little to hope for. Too much turmoil, too many wars. Too much suffering.’ Depending on who you are, you might think that this is Mother Teresa or Sub-Commandante Marcos of the Zapatistas. Actually, it’s James Wolfensohn, President of the World Bank, speaking at the joint WB-IMF meeting in Dubai in September this year.

A few days after Wolfensohn got it off his chest, the International Herald Tribune reported that the International Monetary Fund, which bitterly attacked Malaysia’s Mahathir Mohammad during the East Asian financial crisis, has since had a rethink. Aw shucks, we were, you know, sort of wrong: ‘The IMF has since accepted that Mahathir’s (capital and currency controls) formula worked.’

Around the same period, the Wall Street Journal came up with this original idea. Well, original for the Journal, anyway. It wrote: ‘Markets are a great way to organise economic activity, but......

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Title: Globalisation
Approximate Word Count: 4208
Approximate Pages: 17 (250 words per double-spaced page)

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