Edited by Sheila Dow, Jesper Jespersen and Geoff Tily
Chapter 7: Finance for transformation: a Post-Keynesian perspective on global sustainable development
The world urgently needs to address three daunting challenges. To lay the foundation for lasting, inclusive prosperity, economic growth needs to rise beyond the levels attained in weak recovery since the global financial crisis. We also need to substantially increase the access of excluded populations to energy, clean water, accessible transportation and more inclusive and cleaner urban environments. Finally, climate change threatens our future and we need to move the world onto a low-carbon growth path and mitigate the dramatic consequences of global warming. If properly executed, massive sustainable infrastructure investment can help address daunting challenges simultaneously and pave the way to a more prosperous and sustainable future for all. Not surprisingly, a significant number of communiques coming from global forums (for example Multilateral Development Banks 2015a; 2015b) have elected the boosting of such investment as one of the main goals set for international institutions and even national authorities.
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