Common Sense and Nonsense on Global Imbalances

This forum, featuring Dr. Joseph Stiglitz, Dr. Jose Antonio Ocampo, and Dr. Mark Weisbrot, was organized by the Center for Economic and Policy Research and hosted by the Carnegie Endowment for International Peace. Multilateral economic institutions are facing a period of unprecedented challenges — among these are large macroeconomic imbalances (including the US current account deficit), stalled negotiations at the WTO, and a much-reduced IMF. Three economists discussed some of these current challenges and their implications for economic growth and development. The panel discussion was followed by a brief question and answer period.