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Showing posts from June, 2016

Are we travelling on a sustainable development path?

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Global development as a universal objective to improve people’s social and economic wellbeing is a relatively recent concept.
It was first embodied in the United Nations Charter, signed in San Francisco 71 years ago this week, which stated: “the United Nations shall promote higher standards of living, full employment, and conditions of economic and social progress and development.” In time, at least among practicing economists in academia and policymakers in government, “development” came to be seen as improved economic opportunity through the accumulation of capital and rising productivity.
The implicit assumption here was that economic growth would lead to rising living standards, increases in life expectancy, reduced mortality, and a reduction in the incidence of poverty.
And so, between 1950 and 2014, as world GDP per capita expanded at an annual average rate of 2.1 percent, this trend was associated with a remarkable evolution in three key indicators of human welfare. …

Why would Brexit be a blunder of historical proportions?

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Since the vast majority of the problems which humanity faces today are global in nature, the world needs more, not less international cooperation. Major planetary issues are being neglected—we are failing massively and risking being overwhelmed by a broad range of problems the solutions to which require effective “problem solving” mechanisms and institutions. The list of inherently global issues that are insoluble outside a framework of global collective action involving most nations of the world is long and includes: climate change, biodiversity loss, the depletion of tropical forests and fisheries, nuclear proliferation, widening income disparities, a flawed global financial architecture, illegal drugs, the rise of terrorism and the still high levels of poverty and deprivation afflicting much of the developing world, to name a few.
Against this background, those who argue that the United Kingdom would be better off outside the EU do not seem to understand the extent to which economic…