G7 Policies and their implications for Global Stability and Growth Andrew Cornford

Comments prepared for the debate sponsored by the South Centre on Revolution Required The Ticking Time Bombs of the G7 Model, book authored by Hervé Hannoun and Peter Dittus,    Palais des Nations, United Nations, Geneva, 13 April 2018 For reasons explained at length by the authors the principal focus of Revolution Required (RR) is the monetary policy in the Advanced Economies (AE), which has been the main response to the Global Financial Crisis (GFC). This response the authors view as leading to an unsustainable increase in debt levels in the medium term and to investment which may not be viable…

Trade and Development Report 2017 Beyond Austerity: Towards a Global New Deal

  • September 18, 2017
  • Books

In sharp contrast to the ambitions of the 2030 Agenda for Sustainable Development, the world economy remains unbalanced in ways that are not only exclusionary, but also destabilizing and dangerous for the political, social and environmental health of the planet. Even when economic growth has been possible, whether through a domestic consumption binge, a housing boom or exports, the gains have disproportionately accrued to the privileged few. At the same time, a combination of too much debt and too little demand at the global level has hampered sustained expansion of the world economy. Austerity measures adopted in the wake of…

Trade And Development Report 2017 Beyond Austerity: Towards A Global New Deal

Poverty Cut by Growth Despite Policy Failure Jomo Kwame Sundaram

At the UN Millennium Summit in September 2000, world leaders committed to halve the share of people living on less than a dollar a day by 2015. The World Bank’s poverty line, set at $1/day in 1985, was adjusted to $1.25/day in 2005, an increase of 25% after two decades. This was then re-adjusted to $1.90/day in 2011/2012, an increase by half over 7 years! As these upward adjustments are supposed to reflect changes in the cost of living, but do not seem to parallel inflation or other related measures, they have raised more doubts about poverty line adjustments. The…

Poverty, Vulnerability and Social Protection Jomo Kwame Sundaram

According to the World Bank, the MDG target of halving the share of the poor was achieved by 2008, well in advance of 2015, the target year. However, increased unemployment and lower incomes in recent times remind us that poverty is not an unchanging attribute of a shrinking group, but rather, a condition that billions of vulnerable persons risk experiencing. Despite the various shortcomings of money measures of poverty, they nevertheless reflect the extent of vulnerability. For example, the estimated number of poor globally in 2012 more than doubles from 902 million to 2.1 billion when one raises the poverty…

Human Security and the Next Generation of Comprehensive Human Development Goals Gabriele Koehler, Des Gasper, Richard Jolly and Mara Simane

2015 marks the target year of the Millennium Development Goals (MDGs) adopted by the UN in 2000. The goals have not yet been fully achieved due to various reasons, and the unfulfilled agendas need immediate attention. This paper makes a case for extending the MDGs beyond 2015 but significantly reshaping them: to make progress towards goals more explicitly rights-based and participatory, to prioritise economic and social equity and environmental sustainability, to insist on the centrality of employment and decent work, and to move away from the outdated and oversimplified North-South dichotomy. Human_Security (Download the full text in PDF format)

Flat World, Big Gaps: Economic Liberalization, Globalization, Poverty & Inequality Edited by Jomo K.S. with Jacques Baudot

Publisher: Third World Network (Published in association with the United Nations) ISBN: 9781842778340 About the Book Many mainstream economists have claimed that globalization creates worldwide growth, and that economic liberalization will lead to economic convergence and lower inequality. It is now clear that since the 1980s the world economy has experienced slower growth as well as greater inequalities at the national level.The research in this volume provides rigorous empirical analyses of how economic liberalization has actually affected inequality, poverty and development in recent decades. Avoiding polemics and rhetoric, the book provides a balanced account of recent trends, the effects of…

Flat World, Big Gaps: Economic Liberalization, Globalization, Poverty & Inequality Edited By Jomo K.S. With Jacques Baudot

Inequality and Inadequate Policies: A looming crisis in guatemala Jayati Ghosh

Exotic and beautiful birds grace the trees in the garden of the elegant hotel, a sixteenth-century convent converted into a luxury facility. The birds occasionally squawk, but they do not move from their branches because they can no longer fly. They have had their wings clipped, and are placed in their positions by the staff every morning so that their magnificent plumage can be admired by the hotel's guests. This practice can work as a metaphor for the combination of beauty and cruelty that characterizes the Central American country of Guatemala. The town of Antigua Guatemala, just an hour's drive…

World Summit on Sustainable Development: From rio to johannesburg

Even as the World Summit on Sustainable Development (WSSD) gets underway in Johannesburg, it gathers with the gloomy perception that the world has not become any better than was ten years ago when the Rio -Earth Summit was held to usher positive changes. More dangerously, the fragile coalition that was put together at Rio for a commonality of approach and responsibility seems under severe threat. In its essence, sustainable development translates into a concept of economic and social development that is also equitable. The very fact that one out of every six persons lives with an income of less than…

Hunger sweeps Southern Africa Rachel L. Swarns

In February, when the food ran out, Ezlina Chambukira started selling her precious possessions one by one. First, her goat. Then an old umbrella. Then two metal plates and a battered pail. When she had nothing left, she started praying for a miracle. For the first time in a decade, severe hunger is sweeping across southern Africa. The United Nations says that two years of erratic weather — alternating droughts and floods — coupled with mismanagement of food supplies have left seven million people in six countries at risk of starvation. Here in this dusty village of mud huts and…