International Cooperation Can Go Only So Far to End the Recession
Posted in Main Blog (All Posts) on March 14th, 2009 4:38 am by HL
International Cooperation Can Go Only So Far to End the Recession 
Those with high hopes for this week-end’s meeting of finance ministers from the G-20 might want to rethink their enthusiasm for such an international confab. The many words produced in the next several days, some fine and some silly, are likely to have little ultimate impact on the economic situation. Writing in Friday’s Wall Street Journal, the G-20 meeting’s host, U.K. Chancellor of the Exchequer Alistair Darling, paints a rosy picture of international cooperation: major countries working in partnership to restore global financial health. There is certainly nothing wrong with international cooperation or partnership, but each part of Darling’s proposed scenario for coordinated action raises questions and has the potential for harm as well as good.
