Achieving Sustainable Development for the Global Economy

What’s the Latest Development?

The global economy is on an unsustainable path. In other words, it cannot supply the resources required by future generations while preserving an ecosystem in which we can all live healthily. By 2030, the world’s population will require 50 percent more food, 45 percent more energy and 30 percent more water. A narrow set of interests that produces inequality, both within and between countries, has superseded common interests and common responsibilities, says the UN Secretary-General’s High-level Panel on Global Sustainability.

What’s the Big Idea?

What concrete steps can be taken to make the common good a legitimate policy goal? We must measure the full ecological and human toll of economic growth. “Pollution, including carbon emissions, must no longer be free. … We also need to build new ways to measure development beyond GDP.” We must also provide incentives for countries and corporations to take the long-view rather than bow to “the tyranny of the urgent”. Limited public funds should be used to encourage private investment, share risk and provide for basic development.

Photo credit: shutterstock.com