But there are indeed legitimate questions to be asked of the global financial system. At all events, the international community would do well to give careful consideration to how it can improve the way in which the financial markets work. Now, in a tempest it is especially important to maintain a clear sense of direction.
For every serious analysis, the following two insights should provide the guiding lights: Global financial markets bring significant benefits overall. Free capital movements are an important and worthwhile achievement. The free movement of capital has been crucial in promoting the global integration of output and trade.