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Mutual cooperation is not the same as a global regulator. All I'm saying is that we're not likely to see nations agreeing to subordinate themselves to a global decision making body any time soon. After WWII, it only happened because nearly all the players were spent and destroyed.

The best we can (and should) hope for is the kind of cooperation which depends on and is sustained by self interest.

The increased policing cooperation is a case in point: nations do it because they uniformly gain by controlling their own citizens better, not because they are being told to do it, and not because they are working towards a common worldwide goal to catch criminals.

The international finance problems have to be viewed in this light, too.

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$E(X_t|F_s) = X_s,\quad t > s$

by martingale on Fri Oct 10th, 2008 at 08:33:31 PM EST
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