A new process worthy of the name Bretton Woods II ought to be nothing short of a broad reconstitution of macroeconomics suitable to the requirements of at least the next several decades.

But clearly, the current elite is not going to do this …

So the BrettonWoodsII.org site proposes nothing less than working on that restructuring ourselves. Main author Joseph Potvin insists that we have to ‘open source’ macro-economic reform.

Here’s why:

“Unlike in 1945, today all fiscal and monetary operations are analyzed and conducted via computer programs and databases. When programming code is used to guide or implement market behaviour, legislation and policy, then that code cannot be considered as simply a set of anonymous algorithms. Computer programs have become a medium of governance. People of a free and democratic society can rightly demand the same level of openness, transparency and accountability for programming code used in financial analysis, reporting and operations as is expressed in the International Monetary Fund’s Code of Good Practices on Fiscal Transparency. The computer programming code used to implement laws, regulations, policies, standards and agreements that establish the accepted parameters for fiscal and monetary operations are official translations of those rules, and must be subject to the same requirements. Bretton Woods II must therefore engage free/libre/open methods and licensing.”