The changes will be deeper than a rebalancing of economics and politics among different parts of the world; the very idea of competing nation-states scrambling for power, resources, and markets will, in some crucial respects, become pass. The only question is how bad it will have to get before we face the unavoidable. We will have to learn on a global scale some of the hard lessons that successful societies have gradually and grudgingly learned within national borders: that there must be common ground between rich and poor, among competing ethnic groups, and between society and nature. The alternative is a worldwide economic collapse of unprecedented severity.
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Start your review of Common Wealth: Economics for a Crowded Planet Write a review Feb 18, Gill rated it liked it In , I was working as an agroforestry extension agent in a remote village in Africa. I had been struggling to get people to plant nitrogen-fixing and fruit trees for a year, to improve agriculture through local inputs not just fertilizer and expensive seeds and teach methods of improving plant breeding.
Sachs came on VOA and gave a big interview parroting Pedro Sanchez about how if we sent more money to Africa, we could plant more nitrogen-fixing trees, and then all the soils would be In , I was working as an agroforestry extension agent in a remote village in Africa. Sachs came on VOA and gave a big interview parroting Pedro Sanchez about how if we sent more money to Africa, we could plant more nitrogen-fixing trees, and then all the soils would be much richer for agriculture.
The simplicity of his equation and naivety was suffocating. In this book, Sachs provides an overview of the trends and "four" big problems of the world. Honestly, I found much of this is good for identifying historical trends, but mostly boils down to give more money to big organizations preferably ones that Sachs is involved in so that he can save the world the way he thinks best.
He realizes it is not free market or communism this one is for you Joe the Plumber! There are some novel ideas that he draws from other people like rainfall insurance that often fall back on superficial understandings of insurance markets. The government is the ultimate distributor of risk when markets are imperfect, and insurance markets for rainfall are based on profit so they will waste precious resources for people and also not be as risk balanced geographically or in terms of identifying moral hazard and adverse selection as the government itself.
Although the "power of one" ending is absolutely the lamest and most naive ending of any book I have read this year, I think this book is interesting for people who have little exposure to world problems or for policy makers who want a quick blue print of the problems. I felt like I was reading list after list that often overlapped and always boiled down to the UN and money. Robert D. Steele gave a really nice overview and critique of this book, which I will paste here for my own reference later Prahalad, and J.
Rischard, to name but a few. The author does not appear to have read the High Level Threat Panel Report of the United Nations, and his over-all presentation, while accurate and erudite, is also dense, narrow, and of dubious implementability. If you are steeped in the literature and care deeply about the details, then this book is an absolutely essential reference, and for that reason receives four stars.
He identifies six key factors for the near future: 1. Convergence 2. More people, higher incomes 3. Asian Century 5. Environmental Challenges 6. Poorest Billion He loses one star, apart from failing to honor the real pioneers including Herman Daly, father of Ecological Economics: Principles And Applications, for overly general platitudes about global collaboration, technology, saving Darfur as if anything he lists was possible, and generally neglecting so many factors and metrics as to leave me wondering where the book was going.
He lists seven climate change impacts: 1. Rising ocean levels.
Common Wealth: Economics for a Crowded Planet
Learn More Another issue which is very important and is explained in details is overcoming the poverty traps. The author mentions the countries where the violent behavior and high crime level is caused by an extreme poverty. To fight such results, he offers public works projects, increase the number of educational establishments, increase the agriculture productivity etc. I think that these suggestions can and should be implemented in life and that they can serve as an instrument for developing both the healthy economy and healthy thinking of the nation. Besides the mentioned points, however, there are some ideas which seem to be either not realistic or not really helpful.
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