Are you already subscribed? Login to check
whether this content is already included on your personal or institutional subscription.
The present crisis is not just a global financial crunch, but a global institutional
crisis. At an institutional level, it needs a solution similar to
Roosevelt's reforms of the 1930s (NIRA for national industrial recovery,
Glass-Steagall act for finance, TVA for regional policies, labour policies).
These economic reforms were imposed by political power. Today we must
operate at a supranational scale, «as if» there were a supranational state,
like the ECB is doing. This is our immediate future.