Toward a global open society. We live in a global economy, which is characterized by the free movement of goods and services, and by the free movement of ideas and capital. Global integration has brought benefits like the benefits of the international division of labour, dynamic benefits, and noneconomic benefits as the freedom of choice. These benefits of the present global capitalist system can be sustained only by deliberate and persistent efforts to correct and contain the system's deficiencies. The financial centre attracts capital and has an ever increasing size and importance.
Financial markets are inherently unstable, and international financial markets especially so.
This is different in every situation. The incipient threat of global monopolies and oligopolies. The ambiguous role of the state. The capacity of the state to look after the welfare of its citizens has been severely impaired by the globalization of the capitalist system. The international economist D. Rodrik has argued that globalization increases the demands on the state to provide social insurance while reducing its ability to do so.