Gallagher Discusses New Book on Revamping Global Economic System
In an interview with Boston University’s The Brink, Kevin Gallagher, Professor of Global Development Policy at BU’s Frederick S. Pardee School of Global Studies and Director of BU’s Global Development Policy Center (GDP Center), discussed his new book – The Case for a New Bretton Woods – and the necessity of revamping the global economic system.
Gallagher’s book, co-authored by Richard Kozul-Wright, director of the Division on Globalization and Development Strategies at the United Nations, argues for the overhaul of antiquated global economic systems that are fueling poverty, inequality, and climate change. It offers a number of key recommendations for sweeping reforms, including redirecting trade rules toward low-carbon investments, equitably supporting massive green industrialization, and promoting a more prosperous, sustainable world economy for the 21st century.
The Brink spoke to Gallagher about his vision for a new Bretton Woods and why he thinks major reforms are necessary now more than ever.
An excerpt:
How are you hoping the book helps bring the world up to speed from 1944?
As academics, we’ve done this research, we’ve observed this system, and we felt like it was our job to take that evidence-based research and say it’s time to start that conversation, because no one has really called for a whole reboot. Some leaders have called for it here and there, but we wanted to put the blueprint together and start a global conversation about the need to really get this stuff right. We might have another pandemic some day, we might have another global financial crisis, and we’re in the middle of the climate crisis, so we’ve all come to realize that this system is not preventing these crises.
The full interview can be read on The Brink‘s website.
Kevin Gallagher is a professor of global development policy at Boston University’s Frederick S. Pardee School of Global Studies, where he directs the Global Development Policy Center. He is the author or co-author of numerous books, including most recently, The Case for a New Bretton Woods (Wiley, 2022). Read more about Professor Gallagher on his Pardee School faculty profile.