Economic Sharing can mitigate the unsustainable aspects of the global economy, allowing essential resources to be distributed cooperatively under the democratic guidance of the global public and entirely for their benefit, thereby promoting peaceful international relations and rapidly relieving poverty.
Why, you might wonder, does Germany feel the need to barricade the G8 meeting, protecting it from the thousands of expected protestors? The answer lies in the deep unpopularity of G8 summits, writes Mohammed Mesbahi, since they are considered undemocratic by the majority world and protestors from the richest countries.
The pursuit of economic growth as a sole measure of national success is not, despite the dogmas of the World Bank, a foregone conclusion or an inevitable assumption. A paradigm shift in thinking is required if our obsession with outmoded orthodox economics is ever to be overcome, writes Adam Parsons.
Until the existing profit-driven system is replaced by a more cooperative, equitable framework, more doomsday reports, more fearful warnings of Armageddon, and further predictions of a polarised ‘new world order’ can be expected in the newspapers.
The latest overseas aid figures are no suprise to the developing world,
writes Adam Parsons. Broken promises will continue to make newspaper
headlines until the deeper contradictions and biases of the current
economic approach are addressed.
Corporations are able to reinforce their influence over the global economy by spending vast sums of money affecting political decisions, and public opinion. This level and type of corporate activity is ultimately to the detriment of democracy, society and the environment, says STWR.
The global economy needs to be reformed to ensure that basic human needs are secured around the world, and the United Nations is currently the only international body through which such fundamental change can be facilitated.
Together, the IMF, World Bank and WTO form the backbone of the modern world economy. However, these institutions are not democratic or representative of the global community, particularly the majority world which still lives in poverty. As a result, international trade, finance and development policies are skewed to benefit the economically dominant countries that represent a small minority of the global population.
"In order to tackle climate change it is necessary for policy makers to re-examine key aspects of the global economy such as the pursuit of economic growth at all cost; unhealthy export-orientated agricultural practices; biased trade and finance structures; unsustainable over-consumption; and the excessive influence of multinational corporations on the economic and social life of the global public" - Rajesh Makwana.