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Investing in Change: Towards Sustainable Economic and Social Policy after the Crisis

Investing in Change: Towards Sustainable Economic and Social Policy after the Crisis. Simon Maxwell Overseas Development Institute. The paper. Makes the case for ‘investing in change’ Celebrates past successes;

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Investing in Change: Towards Sustainable Economic and Social Policy after the Crisis

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  1. Investing in Change: Towards Sustainable Economic and Social Policy after the Crisis Simon Maxwell Overseas Development Institute

  2. The paper • Makes the case for ‘investing in change’ • Celebrates past successes; • Reviews future challenges: food; climate; urbanisation; demography; globalisation. • Assesses the current policy debate; • Reviews policy specifics; and • Explores options for the Commonwealth.

  3. In brief: Three tough truths Three tough questions Postscript

  4. Three tough truths •  The financial crisis was merely the curtain-raiser to a new age of complexity and common challenge. • There is no alternative to a strategy of ‘invest in the future’. • Commonwealth countries entered the crisis and will leave it with very different ability to respond.

  5. Source: WDR 2010

  6. Four scenarios

  7. Three tough questions • Do you as Commonwealth Finance Ministers agree with the three propositions? • Do you think the politics of economic policy have shifted as a result of the crisis? • How can Commonwealth countries work together and support each other?

  8. The Common Characteristics of High, Sustained Growth Source: Commission on Growth and Development, 2008

  9. To be specificUNCTAD, ILO, World Bank, UN, G-20, CS: • Financial regulation • Social protection • Public services • Research and Development • Education and Training • Infrastructure • Support to productive sectors • Business partnerships • International cooperation

  10. Next steps? • Advocacy • Working together • Mandates for the Secretariat

  11. Investing in change: a future work programme? • Beyond resilience: Investing in change indicators • ‘Readiness reports’ • Policy watchtower • Scenario planning • Sectoral initiatives on e.g. food

  12. Postscript: from risk analysis to values-based transformation The 18 Core Global Risks: Likelihood with Severity by Number of Deaths Source: World Economic Forum - Global Risks 2008

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