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Responsible Global Governance   
Responsible Global Governance
By RITA DULCI RAHMAN and JOSE MIGUEL ANDREU
Hard  Back Book     :   Pages : 180
2004  Edition         :   ISBN - 81-7188-352-4
Price : Rs. 495.00   :   USD $ 29.95
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ABOUT THE BOOK :

SINCE 1820 and till the beginning of the 21st Century, the so-called growing economic gap between the developed world and the developing countries has not changed its gloomy trend. The mentioned dismal tendency seemed to reverse only for a few years, during 1950 to 1973.

In the 70s, the two oil-crises that unleashed inflation and reduced growth rates forced economic theorists and practitioners to look for a new economic policy. This economic restatement finally resulted in a shift of the pendulum, giving back the priority to the market forces, which to some extent had surrendered to the public sector since the 30s. This new economic restatement gave birth to a biased approach of the neoclassical model, which applied to international and development economics generated the so-called Washington Consensus.

Against what was promised and expected, the recommended international economic policy did not ever work in the poorest countries, thus enabling the growing gap to continue. This phenomenon added to long-lasting unresolved international political problems along with the consciousness of constant neglect by the rich countries, has unleashed severe frustrations and in some cases induced the appearance of international terrorism. In our view, the policies of continuous insufficient international economic co-operation and biased trade negotiations with LDC, and the unfocused and somewhat over-done reactions to eliminate terrorism as practised in the last two years by western leadership, are doomed to fail.

According to our interpretation of recent history, if the society of nations wants to solve the current economic and political problems for reaching global peace and security in consistency with sustainable prosperity for all, it will have to increase, pool and reshuffle international public transfers to poor countries. And this should be done while implementing necessary reforms in international economic policies according to a rational sequencing of application (first co-operation, then trade and private financial liberalisation).

At the same time a political reorganisation of the UN and its economic agencies is urgent, since these institutions are asymmetric in decision -making, and rather operating in the interest of the powerful, thus holding back the application of efficient economic means to reach global stability.


ABOUT THE AUTHOR :

Rita Dulci Rahman has 26 years of experience in international relations in different fields, among others in trade and investment, migration, conflict resolution, and development co-operation. She has been committee member or chair in several European and Dutch governmental and non governmental bodies such as EECOD, CCME, ECLOF and Fondad. Born in the Dutch Antilles, she is currently Minister Plenipotentiary at the Royal Netherlands Embassy in New Delhi. She obtained her Masters degree in Develop-ment Studies at the University of Leiden, Netherlands, and her Bachelors in Mathematics, University of Surinam. For three years (1988 - 1991) she taught at the University of Leiden. She has published more than 30 articles on international relations.

Jose Miguel Andreu is Professor of Economics at the University of Sevilla, Spain. He has also taught Econo-mics in the Basque Country University, in the University of Alcala de Henares, and in the Open University of Spain (UNED). For 30 years he has been delivering lectures on Introduction to Economics, Intermediate Macroeconomics, Superior Macroeconomics, Theory of Economic Growth, Money and Banking etc. He has published several textbooks for students, reports, and more than a hundred articles on Spanish and international economic matters. For two years (1981-1982) he was economic advisor to the Prime Minister of Spain. Recently (2000-2003) he served as a Spanish diplomat to India.


CONTENTS IN DETAIL :

Introduction
  • Poverty and access to full information

  • The appearance of a new type of insecurity

  • September 11 and disputes on its causes

  • Irrational reactions

  • A new approach for conflict resolution : institutional reform

  • Content of the book

Recent evolution of economic philosophy
  • Evolution of mixed economies of market
    1. Pure capitalism and mixed economies of market
    2. Economic and social failures

  • Discussion on the size of the public sector
    1. The debate on growing transfers and reduction of taxes

  • Models in competence : the triumph of the neo-classical model
    1. Rise and decline of Keynesian economics
    2. Return to neo-classicism

  • The neo-classical model and the law of pendulum
    1. The Thatcher- Reagan experiment
    2. An approach to the model with doubtful results

  • Wrong international application of the neo-classical model
    1. Lack of knowledge on optimisation during economic transition
    2. On the problem of the second best
    3. Necessary and sufficient conditions for optimising

  • Selfish interpretations of neo-classicism by the West
    1. Asymmetric liberalisation of international trade and consequences
    2. The labour market: a non-considered step for globalisation

  • Inefficient application of the neo-classical model

Economic results of globalisation and the role of the
multilateral institutions
  • Trends of the world economy in the period 1950-1998
    1. Evolution of GDP in the world
    2. Evolution of world population
    3. The per capita GDP growth in the world

  • Evolution of interregional differences of per capita GDP

  • People under poverty line as a paltry target

  • Special consideration of the Muslim world

  • Trade, movements of capital, and convergence in 1950-1998

  • An economic rupture: rising US versus declining EU
    1. Evolution of the EU and the US in comparison to other economies
    2. Causes of the economic decline of EU-15
    3. Corrections to enhance economic and political capabilities of the
       EU

  • The international economic institutions and the growing gap
    1. The role of the International Monetary Fund
    2. The role of the World Bank
    3. Policy convergence of the IMF and World Bank
    4. The role of the World Trade Organisation
        4.1. On the trade policies to be put into practise up to 2005
        4.2. On the evaluation of GATT and WTO

Evolution of political philosophy and developments in the political framework
  • Current Darwinism and consumerism in the rich world

  • Rethinking the trade-off between efficiency and equity

  • Freedom, efficiency, and equality in history

  • Violent conflicts and the birth of the United Nations

  • Evolution of international power sharing 1945-2003
    1. De-colonisation and aid
    2. The birth of the Nato
    3. Power sharing in the 80s and the appearance of a hegemonic
       power

Lessons of the past and implications for the future
  • From an unfair-stable to an unfair-unstable situation
    1. Urban societies and Marxism
    2. Emergence of a welfare state inside Europe: a non-exported model

  • Delayed win-win solution: the European welfare state
    1. Public firms and EU integration

  • Europe’s relation to LDC in the era of the welfare state

  • Expectable reactions of LDC to the behaviour of the West
    1. A way out of deprivation: the increase of illegal immigration
    2. Emergence of national and international terrorism
    3. Potential reactions of developing countries if bridging the gap fails
       3.1. Weakening of multilateralism and rise of trade regionalism
       3.2. Uncertainty and economic stagnation as likely results

  • The role of the UN in this context

Changes to correct current trends : towards a global welfare society
  • In search of sustainable growth, social justice and peace for all
    1. Changing the UN is urgent
    2. On the main traits of a program for global stability

  • Means for reaching the former aims
    1. Reorganisation of the UN
        1.1. The Security Council and its reform
        1.2. On the financial problems of the UN
        1.3. Manipulation of the UN by super powers
    2. Reconsideration of the applied multilateral economic policies
        2.1. Velocity and sequencing of the applied policies
        2.2. Necessary and sufficient conditions once again

  • Reorganisation of public external financing for development
    1. Recent evolution of FDI in external financing of LDC
    2. Recent evolution of short-term capital flows to LDC
    3. Recent evolution of ODA and its irrational distribution
    4. Non-substitutability of ODA and FDI in first stages
    5. Criticism on the functioning of ODA

  • A new approach in public transfers to bridge the gap

  • A more ambitious target for bridging the gap
    1. The rationality of the 2%
    2. Implications of increased international public transfers up to 2%
    3. The economic scope of our proposals in comparison with others

  • UNICO as a new instrument for international public transfers
    1. Main traits of the new UN instrument
    2. Expected outcomes of the UNICO system

  • The commitment to sustainability
    1. Earth warming, polluters, and pretexts
    2. Global agreements but little implementation

  • A new approach on conflict management
    1. New types of conflicts in need of new approaches

Findings, conclusions, and recommendations : a program for global stability and institutional reform
  • Main findings and data for analysis
    1. Possible reasons for growing international terrorism
    2. On the working of the current mainstream economic approach
    3. The future role of the EU in international politics

  • Expectable reactions of Developing Countries

  • A program for global stability and institutional reform
    1. Points for urgent actionA new approach on conflict management

EPILOGUE :
The urgency of reassessing the current order
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