The international financial system has come to a pass which we had not seen since 1929. The difficulties we are confronting will not be overcome by spontaneous market adjustments or minor regulatory interventions: what we need is a new financial architecture, built on new policies and new regulations. And though much depends on how the United States will act in the years to come, we need to put this issue in global perspective and address it on the international level.
This was the theme of an international conference that took place in New York in November 2008, only a few days after the American presidential election. Organized jointly by the Initiative for Rethinking the Economy, Economists for Peace and Security, The Levy Economics Institute and the Charles Leopold Mayer Foundation, the conference was hosted by the Schwartz Center for Economic Policy Analysis at The New School for Social Research.
Proceedings from the conference