Reforming the Global Economic Architecture: Lessons from Recent Crises.

In this article the author examines global financial crises and outlines various government measures to reduce financial instability and risk. The author suggests the implementation of government control over short-term capital flows and changes to bankruptcy procedures that can be applied to crisis environments. The author presents ten policy points that outline some of the key aspects related to these financial crises and suggests three methodologies aimed at correcting them such as incorporating economic theory into effective economic policy.