National markets are held together by shared values and confidence in certain minimum standards. But in the new global market, people do not yet have that confidence.
Sentiment: NEGATIVE
We must ensure that the global market is embedded in broadly shared values and practices that reflect global social needs, and that all the world's people share the benefits of globalization.
In order to work well, markets need a basic level of trust.
Global markets must be balanced by global values such as respect for human rights and international law, democracy, security and sustainable economic and environmental development.
The lesson of 2008 is that ultimately our markets are driven by confidence.
There are values of humanity, culture, beauty, community that may require deviations from the cold logic of market theory.
I think there's a lot of merit in an international economy and global markets, but they're not sufficient because markets don't look after social needs.
Markets are very important but for the government the citizens are more so.
The tension between centrality, on the one hand, and competition, on the other, is probably the oldest of all market structure issues.
But the world is ever more interdependent. Stock markets and economies rise and fall together. Confidence is the key to prosperity. Insecurity spreads like contagion. So people crave stability and order.
People are realistic enough to appreciate what the market values of different people are.