Even as the global economy shows signs of recovery from the financial and economic shocks of the past two years, worrying questions remain. Just how robust is the recovery: is it possible we may yet face a ‘double dip’ recession? How long until economic growth translates into a fall in unemployment? How severe will be the social, as well as the economic, impact of governments having to deal with the public debt incurred in order to prevent a deeper recession?
More fundamental questions are also emerging. The word ‘recovery’ implies a return to a desired state. However, it is increasingly being argued that resumption of a consumption-driven and environmentally-damaging form of growth is neither feasible nor desirable. Commentators coming from very different starting points are drawing attention to the need for radical change in our thinking and policies if we are to achieve just and sustainable development.
Posted in Economic Policy News