The endeavor should be to make the market-driven process of globalization conducive to a more egalitarian and broadbased development pattern. The object of such a design should be to provide more countries with opportunities to improve their development prospects and more people within these countries to improve their living conditions. It would have to be supported by a new institutional set-up. This would mean providing global public goods, such as world peace and a sustainable environment, as well as regulating global public bads, such as international crime whether trade in drugs, arms, people, or [human] organs. It will be necessary to reform existing institutions and to introduce new rules or create new institutions. Some of these would require a system to correct for the failures of unregulated or liberalized international markets, while other initiatives will be needed to build up missing markets (14) .