Letters

On globalisation

Sir, I am intrigued by the Secretary-General's repeated emphasis in your columns on a new three-legged OECD paradigm. The main thrust appears to be that economic policies may fail unless due weight is given to a social dimension (social cohesion) and to a political dimension

Of course, some will argue that Seattle failed simply because it was badly prepared. But since well-prepared OECD negotiations on international investment suffered the same fate, are we not entitled to postulate that deeper forces are at play? Put simply, it could be argued that it is the neglect of Mr Johnston's second and third legs that has produced the set-back. On "social cohesion", the dominant economic doctrine has failed to deal with growing inequalities of income and opportunity. On "good governance", the doctrine that international organisations, including the OECD, are strictly "inter-governmental" has made them blind to the growing importance of civil society in modem, market-based democracies.