While reform of present global institutions is desirable and could be designed to be favourable to the cause of economic democracy, I wonder what can be done in the absence of such reforms. One obvious solution is to build parallel regional and global institutions, whether they be governmental or non-governmental.

Countries that presently have a hot commodity to export, Venezuela for example, have the perfect opportunity to act out a radical vision while still in the shadow of unreformed institutions like the World Bank and IMF. They can change their monetary and banking system, making credit more available for investment and providing debt-free financing for infrastructure. Having done so, restructuring the entire economy along longs of economic democracy become that much easier to sustain.