At their London summit in April 2009 the G20 proposed major changes in the governance of the International Monetary Fund (IMF): a reallocation of voting shares to emerging and developing countries, an antedated reform of the quota system, a delinking of the managing director's election from...

Germany’s social contract, its “social market economy” for the past seven decades, has aimed at spreading wealth and providing a broad social safety net for all groups of society. Yet a defining feature of Germany’s new economy has been the sharp increase in inequality.