Resilience is generally seen as a positive attribute that should be enhanced. When a system is dysfunctional and needs to change its structure and identity, however, resilience can be a negative. As this chapter illustrates, our system of global financial governance works to benefit the elites...

The 1990s financial crisis triggered many changes to the design of the international financial system, the so-called international financial architecture. While much affected, developing countries have had very little influence on the changes, which the formulation of the new Basle capital...