Map of Sanga Sanga on Major critics of the current neo-liberal international monetary regime have won recent elections in Latin America. Participants of the World Social Forum, established in Porto Alegre, Brazil, in 1999 and founded as a counterpoint to the world economic forum held annually by the G8 SUMMIT in Davos, Switzerland, feel that it is possible to change the rules set by the current international monetary elite, particularly those dealing with a deregulated, pro-corporate model for the economy. The current challengers will have to figure out how to convince electorates and the media about the need for greater autonomy for nations in how they participate in the world economy, for example, by regulating foreign investment to suit domestic needs. A specific idea has been floated: There could be a small fractional tax on global currency and financial transactions to deter some speculative capital flows and at the same time generate funds for development and debt-servicing by poor nations. Other items on the challengers’ agenda include establishing more regulations at the international level to provide protections and standards for workers, the environment, and the poor that most industrial nations enacted to try to tame the extremes of capitalism, as noted by Charles Dickens and Karl Marx at the end of the 19th century and early years of the 20th century. Absent a powerful government at the international level willing to enact regulations such as Franklin D. ROOSEVELT’s NEW DEAL in the United States, this will be very difficult. Map of Sanga Sanga 2016.
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