12th October 2022 (6 Topics)
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Solutions by the people, for the people
Context:
Policy-making has to become more inclusive and less dominated by the powerful and the wealthy, while a paradigm shift is needed in problem-solving at global and national levels.
Need for a shift:
- Health of Planet: In pursuit of GDP, the Club of Rome gave a wake-up call in 1972, by introducing the health of the planet into calculations of profit and growth.
- Thatcher-Reagan-Chicago” model of neoliberalism: It marks a transition from welfarist to monetarist. In a way, it wants governments out of the way to let private entrepreneurs loose.
- Unfair Global Financial System: Global financial system protects the interests of large corporations. Now the demand to include the needs of ‘People’ in economic policy is becoming louder.
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