Globalization has brought about major benefits as well as serious problems. Liberalization and integration of previously semi-autarkic economies into the global economic system have created beneficial economies of scale, spurred innovation and lifted tens of millions of people out of abject poverty. Yet, the global economy has also become less stable as uncertainty has increased and new powerful states have come on the scene, global private actors have grown in importance and flows of goods, capital and labor have increased. The global economy has also become less equitable and sustainable as income and wealth distributions have widened and issues such as climate change, trade policies and design of international institutions have gained in importance. The 2008 financial crisis, with its long-term economic repercussions, has increased the recognition that without adequate global economic governance there is a greater possibility of major crises and tendency toward protectionism and political upheavals. There is hence a clear need for new theories, empirical studies and policy initiatives that cut across nation-state boundaries and address the new reality.
The creation of CGEG recognizes the fact that there is a growing awareness of these issues but also a lack of agreement on how to tackle them. This provides a unique opportunity for CGEG – a center that generates pioneering ideas and disseminates them effectively in the policy arena will make an important economic and social contribution. The goal for CGEG is hence to become a premier Center for producing a new wave of policy-oriented research on global economic governance, stress excellence and recognition, and achieve visibility and impact. In doing so, CGEG will bring into sharp focus key issues, set the highest academic standards in research, and bring together key players from the academic, policy and business world.
The proposed approach is to combine internal and external talent. In particular, CGEG will involve and provide stimulating environment for SIPA (Columbia) faculty and students, and bring in top external academics, policy makers, and business leaders. The Center will organize visible events, think out-of-the-box in design and implementation, and use success to generate its future endowment. The priority that CGEG receives from the Dean of SIPA, as well as the Provost and President of the University, is obviously key to its success.
In this context, I propose the following activities in the first few years of CGEG’s existence. Other projects and events will be added as we proceed. The various activities will result in Policy Briefs, Discussion Papers, media materials, books, and conference volumes.
- Jan Svejnar, Director
Global Economic Governance Center Launches with Alan Krueger Keynote on Jobs, Higher Ed
CGEG Global Economic Governance --Part 1
Opening Ceremonies with Alan Krueger
CGEG Global Economic Governance --Part 2
Alan Krueger, chairman of the White House Council of Economic Advisors, spoke at the conference in Low Library on April 26, 2012