An Economic and Social Security Council at the United Nations
The founders of the UN created no effective institutions for world economic and social governance, nor for protecting the poor at a world level. They are needed because: neither markets nor national governments fully take into account what happens beyond their borders - for example pollution of the ozone layer, or the effect of interest rate policy in one country on capital flows elsewhere; some activities cannot be controlled nationally: for example international movements of labour and capital, which governments may wish to regulate or tax; there are worldwide agreements that extreme poverty should be ended, and yet many governments lack the resources, or power, or will to act.
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