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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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Common elements for inclusive and sustainable development strategies beyond 2015

The real-life development strategies that have dominated the scene in recent decades have often been seen as models to be imitated but have in most cases generated unsatisfactory results. The Washington Consensus, which dominated the policy scene from the 1980s until recently, has led to greater global economic integration but also to slow growth, more instability and greater inequality. The “Chinese model”, in turn, heralded by many as a pragmatic alternative blueprint for developing countries has been recently criticized, including by China’s head of state, for being potentially unstable and not sustainable (both environmentally and socially), for overly relying on exports, and for suffering from under-consumption, over-investment and limited capacity to innovate (Yongdin, 2011; Roubini, 2011). In turn, the Millennium Development Goals (MDGs) agenda introduced a human development-centred development approach, but has been criticized for defining goals and targets too uniformly without considering initial country-specific conditions and for remaining vague about how to achieve those goals (see chapter 2 by Fukuda-Parr). As a result, this approach of “goals without a strategy” ended up emphasizing more increases in social spending and the mobilization of more development assistance rather than promoting the transformative changes needed to achieve a more inclusive and sustainable growth.

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