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David Korten

My own experience in the third world was that even if people started to make more money, the cost of living and housing increased often faster than the wages.

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The EU will face problems similar to the US: an increasing gap between the citizens and decision makers in Brussels and a perceived or even real lack of democracy.

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There is a huge shift taking place in the global awareness in the last 5 years with strong views about globalization and the power structures of major corporations.

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And each of these perspectives comes to the same conclusion, which is that our global economy is out of control and performing contrary to basic principles of market economics.

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More and more surveys in the US are indicating a change in values taking place among consumers, who become more concerned about quality of life, food, health and the environment.

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As long as you have a system that is based on the rational that if you are making money you are thereby making a contribution to society, these financial rogue practices will continue.

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But in the past, US companies have been able to increase their profits through downsizing in the US, through colonizing other people's resources, and through the increase of globalization.

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If you look internationally over the last 50 years there have been improvements in the third world, but in the last 20 years the reverse has happened, with debt crises and increased poverty.

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In a world of increasing inequality, the legitimacy of institutions that give precedence to the property rights of ""the Haves"" over the human rights of ""the Have Nots"" is inevitably called into serious question.

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It will take some time before a politician will capture the imagination of the American people and have the vision and understanding to do what is necessary for a better future for the people of America and the world.

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