Selected for the Global Economic Symposium 2010
The following global developments are on collision course: (1) the surge in global population, currently expected to reach 8.9 billion by 2049, up from just 2.5 billion a century earlier, (2) rising demands for higher and more diversified consumption, fuelled by economic success and the celebration of wealth, (3) the rapid and accelerating destruction of our inherited natural capital (ground water, marine life, terrestrial biodiversity, crop- and grazing land and our life-enabling atmosphere) and (4) deepening pockets of poverty, rapidly growing urban slums, collapsing states and uncontrolled migration, heightening the risk of new pandemics. The increasing tension between rising populations, with expanding needs and desires, and the limited, falling stock of natural capital is not sustainable. Most new population growth will occur among the very poor, moreover, in remote rural areas and shantytowns around huge cities. Problems of ungovernability, terrorism and new migratory waves are foreseeable. The collapse of weak states will sharpen political and cultural tensions and deepen poverty. The interconnectedness of the global economy means that, according to the principle of subsidiarity, the lowest level of organization at which the spillovers can be addressed is the supranational level.
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What new forms of global governance need to be developed to deal with these large, interconnected risks?
- Global governance must span the intellectual “silos” within which international agreements are traditionally made (e.g., trade, migration, health, foreign aid, environment, resource use). What political process and which institutions could achieve such global governance?
- Are new global institutions required or can the goal be achieved through a reassignment of tasks among existing organizations?
- What resources are required to provide such governance?
- There is also a growing appreciation that such global governance must address the needs for economic prosperity, social justice and sustainability. How are these needs to be balanced?
- What shared rules, principles and values can provide an adequate balance for the global community?
- What models of cooperation (such as the European social and market-oriented system, Asian forms of collaboration, American forms of regulated enterprise and social engagement, emerging market economic and social models, etc.) or combinations of such models, are useful foundations for this purpose?
- How can equal access for countries to global institutions be ensured?
- How can misconduct of single nationals or national organizations be effectively sanctioned?
- How can supranational organizations by made accountable to the people they are meant to represent?