The Case for an Economic Security Council in the United Nations

Abstract

The global agenda is changing fast. Instead of a preoccupation with East-West, Cold War problems and nuclear security, there is finally a rising concern with many issues of human security. While economic and social issues are rising to the top of the global agenda, paradoxically, there are no global institutions of economic governance which can handle these issues effectively and on a regular basis. Institutions of global economic governance are floundering exactly at a time when global interdependence has increased. A serious vacuum is emerging in global economic management, which is being filled in at present through ad hoc improvizations and the rather narrowly focused Bretton Woods system.