In the fight against COVID-19, success has so far been defined by responses in Asia and the Pacific. Many countries in our region have been hailed as reference points in containing the virus. Yet if the region is to build back better, the success of immediate responses should not distract from the weaknesses COVID-19 has laid bare. Too many people in our region are left to fend for themselves in times of need. This pandemic was no exception. Comprehensive social protection systems could right this wrong. Building these systems must be central to our long-term recovery strategy.
was arguably the most influential economist of the second half of the 20th century, associated with promoting ‘neo-liberal’, free-market, shareholder capitalism
Friedman’s monetarist economics is now widely considered irrelevant, if not wrong, especially with the low inflation associated with ‘unconventional’ monetary policies following the 2008-2009 global financial crisis.
Industrial policy – or the promotion of particular investments, technologies, industries, regions and enterprises – has been practiced by a variety of governments to try to accelerate economic growth and transformation.
Milton Friedman’s libertarian economics advocating shareholder capitalism has influenced generations trying to understand the economy, not only in the US, but all over the world.
On 29 September, the world’s heads of state will come together (virtually) at an extraordinary meeting to discuss financing for development during the 75th UN general assembly. This will be crucial in the battle to address the Coronavirus crisis.
In Amuru district, 47 kilometres from Gulu town in northwestern Uganda, the Omer Farming Company has proven that it is possible to farm on thousands of acres of land using methods that conserve the environment and its biodiversity.
The negative impact of the coronavirus pandemic is likely to be felt long after the COVID-19 health risk is resolved, a high-level meeting under the auspices of the Asian Population and Development Association (APDA), heard.
African organizations are demanding answers after a recent report found that Alliance for a Green Revolution in Africa (AGRA) strategies have failed spectacularly to meet its goals of increasing productivity and incomes for millions of small-scale farming households by 2020 while reducing food insecurity on the continent.
With many in the world experiencing declining living standards, there has been growing frustration. Many hope that progressive taxation will improve things. While some economies once had progressive tax systems, recent decades have seen regression.
If countries considered Universal Health Coverage (UHC) a central policy in their health systems, the COVID-19 has surely demonstrated the need for its urgent and widespread roll out. The pandemic has upended world systems in a manner that no scientists or sophisticated global intelligence could have foreseen.
After accusing the World Health Organization (WHO) of pro-China bias, President Donald Trump announced US withdrawal
from the UN agency. Although the US created the UN system for the post-Second World War new international order, Washington has often had to struggle in recent decades to ensure that it continues to serve changing US interests.
The World Bank leadership must urgently abandon its ‘Maximizing Finance for Development
’ (MFD) hoax. Instead, it should resume its traditional multilateral development bank role of mobilizing funds at minimal cost to finance developing countries.
Just over five years ago, a major oil discovery occurred on the northeastern coast of South America. There have been a series of additional discoveries ever since. But this time it was not Venezuela. It was Guyana.
In 1990, Latin America’s average GDP per capita was a little over a quarter of the United States’ income level, while emerging and developing Asian countries’ GDP per capita was only 5 percent. In 2019, Asian countries had grown fourfold, but Latin America was still at the same level.
With the Covid-19 contagion from late 2019 spreading internationally this year, governments have responded, often in desperation. Meanwhile, predatory international law firms are encouraging multimillion-dollar investor-state dispute settlement (ISDS) lawsuits citing Covid-19 containment, relief and recovery measures.
The Trans-Pacific Partnership (TPP) Agreement should be dead and buried after President Trump announced US withdrawal immediately after his inauguration in January 2017. After all, most major US presidential candidates in the last election, including Hillary Clinton, had opposed the TPP.
Most economists see structural transformation as one of the main routes to Africa’s sustainable development. What it means is changing the share of agriculture, manufacturing and services in an economy. It is a central aim of the African Union’s Agenda 2063.
GDP has been increasingly challenged on many grounds as a measure of economic and social progress. Clearly, GDP does not take account of other dimensions of wellbeing, natural resource depletion or environmental damage.
On June 10, 2020, Senator Ricardo Monreal, President of the Political Coordination Board of the Senate of Mexico, presented a legislative initiative to reform Article 28 of the Political Constitution of the United Mexican States, in order to cluster in a single regulator of economic competition, the Telecommunications, Broadcasting and Energy sectors.
The 1971 Bretton Woods (BW) system collapse opened the way for financial globalization and transnational financialization. Before the 1980s, most economies had similar shares of trade and financial openness, but cross-border financial transactions have been increasingly unrelated to trade since then.
Unless there is a restructuring of debt for developing countries, the servicing for this debt will take away valuable resources from these nations that are needed to prevent the further suffering of people during the coronavirus pandemic -- particularly with regards to safeguarding the health systems, and protecting the “integrity and resilience of economies”.