Covid-19, Russia’s invasion of Ukraine, inflation, supply chain problems, food shortages and worsening climate events have upended global systems and forever changed people’s lives. The old approaches to what governments should do and how the international economic system should work, based on neoliberalism, won’t work as a way forward, especially as we enter a new Cold War, but also an era in which the need for global cooperation is ever more apparent. We must chart a new course, one in which markets and governments operate in tandem, in which corporations don’t dictate vaccine availability and richer countries offer constructive and real help to developing countries.
Joseph E. Stiglitz is the recipient of the Nobel Memorial Prize in Economy. In his lecture and the talk with IWM Rector Misha Glenny, he will discuss how countries can work together to create a different and better globalization.