The world may be moving past neoliberalism, but it is hampered by an out-of-date approach to investment. Improving the quantity and quality of international public spending is required to combat the climate emergency. 

The time is ripe to transform global economic governance. Policymakers must seize this opportunity to overhaul development financing, reform the international monetary system, restructure sovereign debt, and improve global tax cooperation.

Providing and financing international public goods to cope with the global challenges in a fractured global order will require bold and innovative approaches.

Pressure is growing to raise taxes on the world’s superrich, and the United Nations has an opportunity to turn this momentum into irreversible change. 

The international community faces a new economic paradigm. The multilateral system must become more flexible in its attitude toward and treatment of industrial policies.

After four years of a neoliberal government that dismantled environmental regulations in Brazil, the country is once again transitioning toward a state-led model of development. But entrenched domestic interests may thwart a more sustainable path.

Lula’s current progressive administration is unable to give up neoextractivism, as giving up on commodity-led growth would likely invite an economic and social disaster.

Fundamental questions complicate any steps to reforming these global economic institutions: Are they fully devoted and uniquely equipped to deal with development?

Global economic governance needs to address climate change, global demographics, and digital transformations to ensure that economic benefits are evenly distributed.

Global economic governance has demonstrated remarkable resilience in the face of multiple shocks. Yet its failure to confront challenges like climate change risks further disorder.

An obsession with growth has generated massive inequality, undermined global economic stability, and weakened faith in democracy. Reversing these trends requires reining in the power of financial capital and managing global trade flows.

Climate policy must go beyond purely economic targets. Effective policymaking must also mobilize societies because success depends on their solidarity and agency.