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Alternative Development Strategies for the Post-2015 Era

image of Alternative Development Strategies for the Post-2015 Era
The global economic crisis of 2008-2009 exposed systemic failings at the core of economic policymaking worldwide. The crisis came on top of several other crises, including skyrocketing and highly volatile world food and energy prices and climate change. This book argues that new policy approaches are needed to address such devastating global development challenges and to avoid the potentially catastrophic consequences to livelihoods worldwide that are likely to result from present approaches. The contributors to the book are independent development experts brought together to identify a development strategy capable of promoting a broad-based economic recovery and at the same time guaranteeing social equity and environmental sustainability both within countries and internationally. This new development approach seeks to promote the reforms needed to improve global governance, providing a more equitable distribution of global public goods.

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Learning from the past: Which of the past/current development strategies are best suited to deal with the “quadruple crisis”?

The MDG development strategy has mainly been framed in terms of social and aid policies and has said little about the national development strategies and governance changes required for their achievement. Because of this omission, national strategies have, often by default, relied on an unfettered liberalization of domestic and external markets and weak food security and environmental policies. Such an approach has done little to prevent the emergence of a “quadruple crisis” which has severely affected the economies of many developing countries and delayed the achievement of the MDGs. The elements of the “quadruple crisis” are (i) a mounting macroeconomic instability which periodically erupts into costly financial crises; (ii) rising food prices, hunger and malnutrition; (iii) a worsening of income inequality; and (iv) long-term environmental problems which raise the costs of the mitigation and adaptation measures needed to prevent additional personal and environmental damages. In all these areas, the search for new development approaches is in order, to deal with the crises themselves and to support the drive to achieve the MDGs.

English

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