Palestine is the end of the rules-based international order

In this thought-provoking contribution at TNI's IGNITE! Festival of Radical Ideas, economist Jayati Ghosh explores the breakdown of the global legal and economic order, highlighting how recent political shifts have led to a disintegration of established rules. She discusses the impact of these changes on global issues, including the situation in Palestine, where the International Court of Justice’s pronouncements have little effect on real-world actions. Ghosh argues that while the international trade and justice systems are in chaos, only financial regulations remain intact. This creates a peculiar moment in the global economy but also opens up opportunities for new ideas and power dynamics to emerge.