[source: False Dawn - The Delusion of Global Capitalism, p. 

AGE OF GLOBALIZATION WILL BE REMEMBERED AS AN AGE OF FORCED SERVITUDE
The age of globalization will be remembered as another turn in the history of 
servitude.
False Dawn - The Delusion of Global Capitalism, p. 

CRISIS MANAGEMENT IS NOT SUFFICIENT TO STEM OFF COLLAPSE OF GLOBALIZED ECONOMY
Large and widening inequalities threaten the political stability of the free 
market at both national and global levels. It is not easy to see how the 
American-led concert of the great powers on which today's global market relies 
can withstand a prolonged setback in the world economy. The policices of crisis 
management that have averted catastrophe in the recent past will not now be 
adequate. A breakdown of the present global economic regime could well result 
from current policies.
False Dawn - The Delusion of Global Capitalism, p. 

GLOBAL MELTDOWN MORE LIKELY BECAUSE OF FINANCIAL DERIVATIVES
Global laissez-faire may break down in an unmanageable crisis of the world's 
stock markets and financial institutions. The enormous, practically unknowable 
virtual economy of financial derivatives enhances the risks of a systemic crash.
False Dawn - The Delusion of Global Capitalism, p. 

US COULD BE WORSE OFF THAN IN 1929 WITH SMALLER SCALE CRASH
It is becoming fashionable to talk of a re-run of the Great Crash of 1929-32, 
when the American market fell by 90%, and a global depression ensued. In fact, 
the scale and depth of the American people's exposure to the stock market is 
greater now than at that time - or any other. As a result, a fall in the market 
considerably smaller than than which occurred between 1929-32 could have a 
larger economic impact. A sustained slide on Wall Street will not be a market 
correction, but a signal for a major dislocation of the world economy.
[source: False Dawn - The Delusion of Global Capitalism, p. 

A vital condition of reform of the international economy is that it be supported 
by the world's single most important power. Without active and continuing 
American endorsement there can be no workable institutions of global governance. 
But so long as the United States remains committed to a global free market it 
will veto any such reform. So long as American policy is based on the laissez-
faire ideology that informs the Washington consensus there is no prospect if 
reforming the world economy.
[source: False Dawn - The Delusion of Global Capitalism, p.