The Ecological Opportunity
- Science, Innovation, Technology and Entrepreneurship series
Edited by Blandine Laperche, Nadine Levratto and Dimitri Uzunidis
Chapter 13: Global Governance, Resources and Sustainable Economic Development. A Critical Approach to the International Economy
Lamia Yacoub and Dimitri Uzunidis INTRODUCTION The ambition for a more balanced and equitable globalization raises the question of a global governance system to manage the stakes that seem to be beyond the regulatory powers of states and market. These stakes turn around the necessity of a sustainable development of the global economy; a concern that stems from an awareness of the perverse effects of capitalism. It was in 1987, with the publication of the Brundtland Report, entitled ‘Our Common Future’, that the objective of sustainable development, was first pronounced. It is supposed to be a type of development that is socially acceptable, economically practicable and ecologically respectful to the environment. Since then, the concept has been the object of intense questioning in economic and scientific literature and has renewed – in the context of globalization – the traditional development economics. The concept of sustainable development is omnipresent in the speeches and publications of international institutions. Conferences, summits and protocols are multiplying to try to create a three-dimensional balance between the three P’s (profit, people, planet). They have given birth to intentions and promises of more efficient control of the capitalist machine. However, the facts show clearly that this control is not efficient: there is still a long way to go to achieve sustainable development. Thus, the global governance system is suffering a crisis of legitimacy. The popularity of the system is contested, its decisional processes are unbalanced, and its aims are controversial. Indeed, it has not only given priority to the...
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