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As the G8 faces accusations of reneging on promises, a leading analyst and campaigner says the precedent of the United States's great depression and Japan's post-bubble collapse should haunt today's summiteers.
'The G8 in a global mess' (http://tinyurl.com/64s7h4) appears on openDemocracy. It is written by Ann Pettifor, executive director of Advocacy International - who in 2003 (that's right, five years ago) wrote a prescient piece predicting that debt would become a major issue for the rich (http://www.opendemocracy.net/globalization-americanpower/article_1463.jsp). Crunch.
In the 1990s, Ann helped design and lead the international campaign Jubilee 2000. She is editor of The Real World Economic Outlook (Palgrave 2003) and author of the book that followed her article, The Coming First World Debt Crisis (Palgrave, 2006). Last year she was part-time campaigns director for Operation Noah (http://www.operationnoah.org), the climate change campaign based at Churches Together in Britain and Ireland (CTBI). In 2000 she was granted the Pax Christi International Peace Prize.Tweet