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On the eve of the 52nd annual World Bank/IMF meeting beginning Sept. 29, the Economic Policy Institute invites press to attend an on-the-record media briefing and breakfast on the unregulated flow of capital -- and its role in fostering current global financial instability -- featuring two of the world's leading authorities on international capital markets:

When:
9 a.m., Thursday, Sept. 17

Where:
Hotel Washington, Council Room 515 15th St., N.W. Washington, D.C.

Economists John Eatwell and Lance Taylor -- in their working paper "International Capital Markets and the Future of Economic Policy --propose the establishment of a new "World Financial Authority" as an antidote to the IMF's liberalization of capital markets, and as a means to manage international financial regulation, increase levels of employment and promote steady economic growth around the globe.

--- John Eatwell, Ph.D., is the president of Queens' College at Cambridge and a member of the House of Lords. From 1985 to 1992 he served as economics advisor to former British Labor Party head Neil Kinnock. In 1988, Eatwell, helped create the Institute for Public Policy Research, one of Britain's leading policy "think tanks," and he remains chairman of its board of trustees. Educated at Cambridge and Harvard, Eatwell is the author of several books on economic policy and theory.

--- Lance Taylor, Ph.D., is Arnhold Professor of International Cooperation and Development, as well as director of the Center for Economic Policy Analysis at the New School for Social Research in New York. Educated at Harvard and formerly an economics professor at both Harvard and MIT, Taylor is also a widely published author and has served as a visiting scholar and policy advisor in more than 25 countries.

--- Jeff Faux, president of the Economic Policy Institute in Washington, D.C., will moderate discussion following presentations by Eatwell and Taylor. Faux has served as an economist for the State,Commerce and Labor departments. He is a member of the National Advisory Council on Economic Opportunity. Faux's latest book is "The Party's Not Over: A New Vision for the Democrats."

------ To reserve a seat on Sept. 17, RSVP to Elizabeth Buchanan at New Economy Communications, 202-721-0111. A continental breakfast will be served.

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