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desk drawer was always empty. “Financial crises are probably the most devastating economic events that can happen to a country,” says Geithner, who fought the last conflagration as president of the Federal Reserve Bank of New York and later US Treasury secretary. “I’d like our successors to have a better base of knowledge.” So every summer, Geithner takes time of from his job as president of Warburg Pincus, a private equity firm, to help teach a two-week crisis management workshop for regulators from around the world. It’s one part of the Yale Program on

International Monetary Fund. Communications Department
This paper focuses on overcoming fears of technology and globalization means rethinking the rights and obligations of citizenship. While the causes of our discontent vary, they all point to the need to revitalize politics, economics, and social contract to provide citizens with a greater sense of security and confidence in the face of impending changes. The backlash highlights the need for a new social contract, one that adapts to changed economic realities and better manages the social implications of globalization. The social contract includes the payment of taxes in exchange for public goods, and the way that society looks after the old, the young, the infirm, and those who have fallen on hard times. Countries with greater social mobility grow faster because they more effectively match people to the right jobs. Another way to address inequality would be to put a floor under incomes, which would help ensure that even low-wage earners can enjoy a reasonable standard of living.