Years ago, as the Cold War was coming to an end, I said to my fellow leaders around the globe: The world is on the cusp of great events, and in the face of new challenges all of us will have to change, you as well as we. For the most part, the reaction was polite but skeptical silence.
Our perestroika signaled the need for change in the Soviet Union, but it was not meant to suggest a capitulation to the U.S. model. Today, the need for a more far-reaching perestroika -- one for America and the world -- has become clearer than ever.
But then came the economic crisis of 2008 and 2009, and it became clear that the new Western model was an illusion that benefited chiefly the very rich. Statistics show that the poor and the middle class saw little or no benefit from the economic growth of the past decades.
The current global crisis demonstrates that the leaders of major powers, particularly the United States, had missed the signals that called for a perestroika. The result is a crisis that is not just financial and economic. It is political, too.
The model that emerged during the final decades of the 20th century has turned out to be unsustainable. It was based on a drive for super-profits and hyper-consumption for a few, on unrestrained exploitation of resources and on social and environmental irresponsibility.
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