Towards a Better Global Economy

More about the book

Significant progress against extreme poverty has been achieved over the past two decades. However, a slowdown in global economic growth and rising income inequality in both developed and developing nations raise concerns about sustaining this progress into the 21st century. It is crucial to explore how improvements in global governance, alongside increased activism from 'global citizens,' can lead to more equitable outcomes through enhanced national and international policies. This work delves into the factors likely to foster beneficial economic growth across various income levels, analyzing historical and current trends, demographic shifts, hyperglobalization, finance's impact on growth, climate change, and resource depletion. It emphasizes the importance of global citizenship and governance in addressing long-term challenges and identifying policy options to improve lives worldwide. The book highlights how demographic changes and competition may shift global economic dynamics toward Asia and emerging economies, while also addressing the lasting effects of the 2008-09 crisis, such as high unemployment and debt, which threaten living standards. Additionally, it discusses the risks posed by fluctuations in trade and financial markets, as well as institutional biases favoring the affluent. The chapters aim to spark public interest and encourage policy dialogue.