By Ying Chen and Güney Işikara (guest post)
Many people are wary of bringing a critique of capitalism into the discussion of climate change, even if they are genuinely concerned about the crisis and actively looking for effective solutions. All it takes is the mention of any word ending with “-ism,” and skeptics will conclude that the discussion is unnecessarily ideological.
However, looking at the climate crisis through a Marxist lens can give us greater insight into the political inertia that has stalled the implementation of any kind of coordinated national response to climate change. The way capitalism operates in the United States, with its all-encompassing forces that have played a major role in creating today’s environmental disaster, is also standing in the way of the implementation of a comprehensive solution. We can only understand the impact of capitalism on the current crisis by viewing capitalism as a specific economic system and assessing its historical impact—as well as its limits and contradictions.
By Timothy A. Wise*
Cross-posted at Food Tank.
Recently, the High Level Panel of Experts of the U.N. Food and Agriculture Organization (FAO) released its much-anticipated report on agroecology. The report signals the continuing shift in emphasis in the UN agency’s approach to agricultural development. As outgoing FAO Director General Jose Graziano da Silva has indicated, “We need to promote a transformative change in the way that we produce and consume food. We need to put forward sustainable food systems that offer healthy and nutritious food, and also preserve the environment. Agroecology can offer several contributions to this process.”
The commissioned report, “Agroecological and other innovative approaches for sustainable agriculture and food systems that enhance food security and nutrition.” Two years in the making, the report makes clear the urgent need for change. “Food systems are at a crossroads. Profound transformation is needed,” the summary begins. It stresses the importance of ecological agriculture, which supports “diversified and resilient production systems, including mixed livestock, fish, cropping, and agroforestry, that preserve and enhance biodiversity, as well as the natural resource base.”
Finally, two International Monetary Fund (IMF) staff members, Reda Cherif and Fuad Hasanov, have broken the taboo. They embrace industrial policy, arguing against the current conventional wisdom that East Asian industrial policies cannot be successfully emulated by other developing countries.
By Timothy A. Wise
Cross-posted at Mark Bittman’s Heated at Medium.
One version of an old joke features a shipwrecked economist on a deserted island who, when asked by his fellow survivors what expertise he can offer on how they can be rescued, replies, “Assume we have a boat.” Economists have a well-deserved reputation for making their theories work only by making unrealistic assumptions about how the real world operates.
I was reminded of the joke often in the five years I traveled the world researching my book, Eating Tomorrow: Agribusiness, Family Farmers, and the Battle for the Future of Food. Policy-makers from Mexico to Malawi, India to Mozambique, routinely advocated large-scale, capital-intensive agricultural projects as the solution to widespread hunger and low agricultural productivity, oblivious to the reality that such initiatives generally displace more farmers than they employ.
By Sara Hsu
China has become a leader in globalization, most visibly through its One Belt One Road initiative, which spans several continents and aims to build up infrastructure and trade between China and the rest of the world. While the program has, for the most part, remained controversial in the West due to a fear of Chinese imperialism, in March 2019, Italy broke with the G7 major economies and signed up for the program. Some analysts have expressed concerns that this move will allow China a back door into Europe’s heartland, while others see it as a shrewd move on the part of the Italians, allowing them to obtain much-needed financing for a number of endeavors. So, which is it, and is this a win-lose or a win-win situation?
From The Real News Network.
If Africa as a continent does not have strategic objectives of its own, the history of impediments to African economic development will be repeated in its engagement with China, says Ethiopia’s Alemayehu Geda.
LYNN FRIES: It’s The Real News. I’m Lynn Fries. My guest on today’s show is Ethiopia’s Alemayehu Geda, who is a Professor of Economics at University of Addis Ababa. We are meeting at the UN Geneva, where Professor Geda just presented at anexperts meeting. Professor Geda, welcome.
ALEMAYEHU GEDA: Thank you very much.
By Jomo Kwame Sundaram and Anis ChowdhuryCross-posted at Inter Press Service.
By Jesse Griffiths
Cross-posted at ODI.
The 2019 Financing for Sustainable Development report from the Inter-Agency Task Force (IATF) on Financing for Development was launched today.
For those – like me – who worry that the world is sleepwalking into another crisis, it’s not reassuring. It confirms that global debt is at record levels and ‘financial fragilities’ have built up across the globe. It’s also disappointingly light on solutions that could reverse these trends.
What is the IATF report?
The IATF is a group of fifty major international institutions that work on finance issues, including various United Nations bodies, the International Monetary Fund, World Bank and World Trade Organization.
This report is its annual stocktake on progress towards meeting commitments to finance the Sustainable Development Goals (SDGs). It’s an impressive undertaking, covering all major financing sources, with a mandate to look at the global financial and economic system as a whole.
By Jomo Kwame Sundaram and Anis Chowdhury
Cross-posted at Inter Press Service.
The World Bank has successfully legitimized the notion that private finance is the solution to pressing development and welfare concerns, including achieving the Sustainable Development Goals (SDGs) through Agenda 2030.
A recent McKinsey report estimates that the world needs to invest about US$3.3 trillion, or 3.8 per cent of world output yearly, in economic infrastructure, with about three-fifths in emerging market and other developing economies, to maintain current growth.
The world financing gap is about US$350 billion yearly. If new commitments, such as the SDGs, are considered, the gap would be about thrice the currently estimated gap as available public resources alone are not enough. Thus, for the Bank, the success of Agenda 2030 depends on massive private sector participation.