The urgent need for economic transformation: subordinating the interests of finance capital to human rights

The article stresses that if we wish to avoid a return to the deflationary era of the 1920's and 1930's, then some means must be found to discipline international financial capital. This can be done by:

• capital controls
• the concept of limited liability applied to sovereign states
• an international insolvency law, that would introduce a framework of justice into relationships between international creditors and sovereign debtors
• a Tobin Tax
• the most urgently needed discipline is the massive cancellation of the unpayable debts of the poorest countries