Revolution Required - The Ticking Time Bombs of the G7 Model

Revolution Required - The Ticking Time Bombs of the G7 Model, ISBN: 9781522031239

114 Pages Posted: 28 Oct 2017

See all articles by Hervé Hannoun

Hervé Hannoun

Bank for International Settlements (BIS)

Peter Dittus

arCandide consulting

Date Written: August 18, 2017

Abstract

Trust in public policy makers and public institutions is eroding. People sense that something is wrong with the way the political and economic elites in the G7 countries are discharging their responsibilities. This manifesto argues that the finely tuned antenna of people are right: the current trajectory of policies in the G7 countries is leading straight into a systemic crisis. It shows how key policies are irresponsible, whether in the domains of monetary and macro policies, or in the areas of climate change and defence. But these policies are presented as being in the public interest. The mainstream media present news that purport to show that all is well, while independent and critical views receive little coverage. In terms of policy-making, the world has turned up-side down within a few years. Heretical views of five years ago have become mainstream; mainstream analysis of yesterday is seen as not “getting it”. The manifesto makes the case for a revolution in thinking if the march of the doomsday clock towards midnight is to be stopped. It advocates the transition from the reckless G7 model to an “economy for the common good”. A model today seen as utopia - but that might soon become a categorical imperative.

Keywords: monetary policy, political economy, G7, climate change

JEL Classification: F02, E58, D73, G18, G28, H12

Suggested Citation

Hannoun, Hervé and Dittus, Peter, Revolution Required - The Ticking Time Bombs of the G7 Model (August 18, 2017). Revolution Required - The Ticking Time Bombs of the G7 Model, ISBN: 9781522031239 . Available at SSRN: https://ssrn.com/abstract=3060168

Hervé Hannoun

Bank for International Settlements (BIS)

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

Peter Dittus (Contact Author)

arCandide consulting ( email )

Chemin des Pralets 26
Belmont-Lausanne, Vaud 1092
Switzerland
+41217283915 (Phone)
41 61 280 9100 (Fax)

HOME PAGE: http://www.arcandide-consulting.com

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