ABSTRACT
The relative dominance of the neoliberal agenda is partly due to the shortcomings of traditional Keynesian policies. Even though the neoliberal agenda does not constitute a viable long-term social project, it has been embraced by a majority of policy makers who see no alternatives to free, unfettered, markets worldwide. However, the increased flow of information, commodities and capital has not improved the welfare of the majority of people and the gap between the rich and the poor is now wider. There is a need for alternative policies and programs that can generate prosperity, eliminate poverty and ensure full employment and a sustainable growth. The challenge then is to devise institutions that are compatible with this objective and which are capable of dealing with the new environment.
