UN Takes Small Step to Fix Global Economic System
‘Pact for the Future’ Calls for Concrete Measures to Move Beyond GDP
Global critics of the international financial architecture say the system is broken. As Brazilian President Lula da Silva said today addressing the United Nations General Assembly, it’s become “the Marshall Plan in reverse where the poorest finance the richest.” From realizing people’s socioeconomic rights to tackling climate change, the laws and institutions that make up the global economic system are seen to benefit wealthy countries while leaving many governments, particularly in the Global South, without the resources they need to realize everyone’s rights.
