Ian Goldin argues that we need to fix the institutions we have. Reform, reinvention, and revision–to make the world a better place. His framework includes the following principles:
- Not all issues require collective action.
- Selective inclusion is required.
- Apply Variable Geometry.
- Global management requires legitimacy.
- For global action to be effective, there must be enforceability.
Global politics is gridlocked. There can be no doubt that the system needs radical reform. The establishment of a shared system of rules to promote inclusive and sustainable globalization is urgently needed.
The question is whether this will be in time to proactively address systemic global crises — or whether reform must emerge from the ashes of a devastating crisis, as has been the historical norm