The problem is this. The spread of markets outpaces the ability of societies and their political systems to adjust to them, let alone to guide the course they take
Interpretation
Market expansion often outstrips society's ability to adapt politically.
This quote by Kofi Annan highlights the challenge that societies face in keeping pace with rapidly expanding markets. As markets evolve and grow, societal structures and political systems struggle to adapt, which can lead to inequalities and socio-economic issues that need careful management and guidance.
In practice
During a lecture on global economics, this quote can be used to emphasize the need for better political frameworks.
If you have a problem and you can't find a solution, you meet again tomorrow and you keep talking until you find a solution. You can disagree with behavior or a particular position, but you do not resort to calling an opponent worthless.
Let us remember the large numbers of citizens who, day in and day out, through acts of volunteerism large and small, bring hope to so many of the world's disadvantaged. Let us ensure that this wonderful resource, available in abundance to every nation, is recognized and supported as it works towards a more prosperous and peaceful world.
We may have different religions, different languages, different colored skin, but we all belong to one human race.
The global HIV/AIDS epidemic is an unprecedented crisis that requires an unprecedented response. In particular it requires solidarity - between the healthy and the sick, between rich and poor, and above all, between richer and poorer nations. We have 30 million orphans already. How many more do we have to get, to wake up?
People of different religions and cultures live side by side in almost every part of the world, and most of us have overlapping identities which unite us with very different groups. We can love what we are, without hating what β and who β we are not. We can thrive in our own tradition, even as we learn from others, and come to respect their teachings.
Democracy is, in essence, a form of non-violent conflict management. If war is the worst enemy of development, healthy and balanced development is the best form of conflict prevention.
The Federal Reserve, like other central banks, wields powerful tools; democratic accountability requires that the public be able to see how and for what purposes those tools are being used.
Markets as well as mobs respond to human emotions; markets as well as mobs can be inflamed to their own destruction.
The accepted ideas of any period are singularly those that serve the dominant economic interest...What economists believe and teach, whether in the United States or in the Soviet Union, is rarely hostile to the institutions - the private business enterprise, the Communist Party - that reflect the dominant economic power. Not to notice this takes effort, although many succeed.
Gold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted.
I've never been on Wall Street. And I care about Wall Street for one reason and one reason only because what happens on Wall Street matters to Main Street.
The benefit of appointing a hawkish central banker is the increased inflation-fighting credibility that such an appointment brings.
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