As the Group of 20 summit pandemic spreads from the media, academe and think-tanks out into the political world and into the confused minds of citizens trying to make sense of it all, we have good news. Many of the worst ideas for global governance and policy have already been thrown overboard. By the time the G20 show gets to Toronto, along with the G8 leaders, the latest global-governance effort will likely have ended in a highly desirable state of minimal co-ordination and general indecision and inactivity aimed at taking action some time in the future.

The global bank tax is...

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