Search for a Just Model for Economic Sustainability

Search for a Just Model for Economic Sustainability

Global context: Continuing crisis of the dominant global model (Washington Consensus) since the 2008-2010 Global Financial Crisis

  • Reflected in the rise of Donald Trump (“America First”) and other Trumps, Brexit crisis in Europe, unresolved crisis of Greece, failure of the World Trade Organization
    to conclude its Doha Round (2000), crisis of “shareholder capitalism”, etc.
  • In short, crisis of neo-liberalism (nobody wants to be labeled “neo-liberal”), yet most policy makers stick to neo-liberal framework and apply neo-liberal policies.

Other Global Crisis: 

  • Global ecological crisis due to failure to have global cooperation to arrest global warming and the continuing dependence of nations on extravism: extraction of natural resources, pollution of the environment through various industrial processes, exploitation of cheap labor.

Global Outcomes :

  • global inequality (arising primarily from Race to the Bottom), social protection deficits in many places, & global crisis of directions. Is “Beijing Consensus” the alternative?

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