Global Governance: Managing Problems Without Solving Them

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One of my father’s favorite expressions is that character equals destiny. Nowhere did that seem more evident than in the run-up to today’s G-20 summit, which resembled a classical Greek tragedy: The audience sees the obvious resolution to the crisis, but the actors — prisoners of their character, and thus their destiny — plow onward to their fate. So despite the need for a harmonious summit to fend off the gathering currency wars, the U.S. Fed chose last week to announce its quantitative easing policy, promptly denounced by just about all of the U.S. interlocutors at the G-20 forum. But […]

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