Kyung-Ah Park

Martin Wolf: Climate Change and the Future of Global Governance

Martin Wolf CBE, Kyung-Ah Park

Martin Wolf, whose career at the World Bank and financial journalism were forged by his family's Holocaust survival and belief in liberal democracy, analyzes the 2008 global financial crisis as a rupture that shattered the social contract and fueled populism through rising inequality. He identifies a persistent structural tension between globalized economic systems and national political accountability, a conflict he argues is driving the collapse of democratic principles toward potential benevolent autocracies. This outlook is compounded by his realistic assessment of climate change as an unprecedented collective action problem, where the absence of decisive global commitment threatens long-term prosperity more than any historical event since the Industrial Revolution.