ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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For a New Sustainable Economic Order

For a New Sustainable Economic Order

The global crisis is an opportunity to rethink our models of growth and work towards sustainable development.

Regardless of what short-term solutions and bailouts are adopted in the current crisis, the long-term consequences will have to be a restructuring of the global economy. Instead of letting piecemeal solutions collectively create the restructured economy, let us pause a moment and deliberately envision what sort of a global economy we should create for the future.

Hard as it might be to imagine at this time, this global financial crisis is also an opportunity. It is an opportunity to conceptualise and get global consensus around the kind of economy we need. Should we recreate an economy with easy credit, high debt and leverage? Should we recreate an economy whose ecological footprint is unsustainable? Should we continue in the ideology of untrammelled “growth” without concern for an optimal size with equitable distribution of wealth?

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