SHAPING THE FUTURE - SOCIAL, LIBERAL AND DEMOCRATIC CAPITALISM FOR THE 21ST CENTURY

A severe problem for the Western hemisphere is that the financial status of the nation-states has deteriorated at the same time as they are facing the negative consequences of digitisation and globalisation on employment, the challenges of an ageing population, and the aftermath of the financial crisis. [...] The fact that five years of on-going financial crisis was not ‘sufficient’ to substantially change the picture and 13 SHAPING THE FUTURE - SOCIAL, LIBERAL AND DEMOCRATIC CAPITALISM FOR THE 21ST CENTURY align the financial and the real sphere again is telling about the magnitude of the problem. [...] With the rejection of internationalism also follows a rejection of the global market economy, which according to the populists have created the factory closures and the unemployment in the West. [...] The Rest of The World (ROW) under the leadership of the EU and China should agree on a common regulation of the financial markets and force international banks active in the US to ringfence their activities. [...] At the UN General Assembly 2016 a number of countries from all conti- nents and under the leadership of the Swedish Prime Minister Stefan Löfvén launched the idea of a social dialogue between the transnational companies and unions representing the workers with the objective to address the two problems.