
Contents
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1. Global Governance and the Paradox of Our Times 1. Global Governance and the Paradox of Our Times
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2. Deficiencies in Global Financial Governance 2. Deficiencies in Global Financial Governance
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3. Global Governance of the Environment and Security 3. Global Governance of the Environment and Security
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Global Governance of the Environment Global Governance of the Environment
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Global Governance of Security Global Governance of Security
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4. Reform: Inertia and Interests 4. Reform: Inertia and Interests
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Conclusion Conclusion
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1 Crises in Parallel Worlds: The Governance of Global Risks in Finance, Security, and the Environment
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Published:May 2011
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Abstract
This chapter outlines some of the basic characteristics of contemporary global governance, emphasizing that the three policy domains of finance, security, and the environment have remarkable similarities both in the way in which they underscore global interdependence and in the ways in which the governance of these domains remains woefully inadequate to manage contemporary global risks. It then discusses the manifestation of the capacity and responsibility problems in the domain of global financial governance, highlighting the interrelated governance weaknesses among existing institutional configurations. The chapter also reveals similar deficiencies in the domains of the environment and security and describes prospects for the future of global governance in light of these weaknesses, arguing that recent attempts to address deficiencies in global financial governance, imperfect as they are, reflect the fact that focused, politicized attention to the global nature of risks can yield progressive reform.
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