Expanding world economy

Description

Expanding the world economy involves implementing coordinated policies and initiatives to stimulate global trade, investment, and productivity. This strategy aims to reduce barriers, enhance infrastructure, foster innovation, and support inclusive growth, thereby addressing unemployment, poverty, and economic stagnation. Practical actions include trade liberalization, financial cooperation, capacity-building, and technology transfer, all designed to create resilient markets, increase opportunities, and ensure sustainable development across diverse regions and populations.

Context

With the appearance of new technologies and liberalization of foreign investment, productive activities can be segmented and spread around the world in different locations, and thus more countries have potential opportunities to participate in international production and trade. But these opportunities are not easily tapped by all countries. Countries with a broad range of technological capabilities are better positioned to host specialized activities in the various segments of goods and services production. Created technological assets, in conjunction with appropriate policy and regulatory environments, more than traditional factor endowments, determine comparative advantage in today's knowledge-based world economy.

Implementation

The drivers of growth are many, but they include money created as interest bearing debt, planned obsolescence, consumer culture and status envy, population, and the indicators that used to manage our economic systems.

Claim

Although many people today still lack basic needs, many more people today have a material living standard higher than that of an average citizen at any previous time in history. Economic growth has delivered that standard of living for many people.

Counter-claim

In order to keep growing, a system dependent on economic growth must continually convert nature into goods and relationships into services — things once provided to us as gifts become monetized transactions. The planet has finite resources. Human impact must fit within these limits, and leave some ‘breathing room’ not only for humanity, but for millions of other species. If the absolute amount of resource and energy use is still rising, economic growth will negate resource efficiency gains.