Reflections on Progress: Essays on the Global Political Economy

2016 | Business & Finance

Now, more than ever, the world needs growth oriented and socially inclusive policymaking Is the world giving up on the promise of ever greater prosperity for all, on functioning democratic institutions, and on long term peace? Is the special set of circumstances that led to the recent rapid growth in emerging markets unlikely to be present in the future? Will the second decade of the twenty first century end with "secular stagnation"? Does the rise of authoritarianism, populism, and fanatic nihilism-all experienced over the last few years-threaten to unravel what has been built painstakingly since the catastrophe of World War II? Kemal Dervis addresses these and similar questions in this thought provoking series of essays written for Project Syndicate from 2011 to 2015. The essays are organized in three sections on global economicinterdependence, inequality and the political economy of reform, and the specific challenge of Europe. The common theme is the need for growth orientedand socially inclusive policy making in an interdependent world.

If adopted, these kinds of policies offer the potential for another wave of unprecedented human progressaided by breathtaking new technologies. However, a huge and destabilizing disruption is possible if policy making is not globally cooperative and is not focused on inclusion and greater equity. Dervis argues that a main challenge for nations and multinational organizations is to build multilevel institutions "above and below," as well as "parallel" to, the nation state. These can range from the local to the regional and global, and should include civil society in its many manifestations. These essays synthesize the experience and analysis of a scholar and policymaker with national, regional, and international experience at the highest levels. Dervis exhibits a passion for combining strongly held values with political feasibility.

Kemal Dervis (Author)