Wealth Without Risk

Wealth Without Risk

Wealth Without Risk

Every ten years or so a book is published that provides fresh new thinking that challenges preconceptions about sustainable development, global poverty and, more lately climate change. Whilst such books in the past may have had some influence their approach is not sustained in the face of the need for the developed nations to make socially and politically unacceptable changes to their population’s lifestyles.

Common Wealth by Jeffrey Sachs may just be the book to break the mould in that it proposes solutions that address many of the developed nations’ fears whilst not expecting a huge increase in public expenditure. Indeed if Sachs is right much of the cost could soon come from a reallocation of resources enabled by the reduction in conflict and from development in the poorest parts of the world.

New Economics for the Twenty-first Century

The first part of this book sets out the development and environmental challenges facing the world in the twenty-first century and how the problems have been addressed to date – both successes and failures. It details the six trends that Sachs believes will shape the century:

  • The Age of Convergence – poorer countries catching up with the richest
  • More People and Higher Incomes – growth of both will continue
  • The Asian Century – as the century of gravity of the world economy moves from the Atlantic to Asia
  • The Urban Century – continuing movement from the country into cities
  • The Environmental Challenge – climate change and maintaining biodiversity
  • The Poorest Billion and the Poverty Trap – improving health, incomes and reducing conflict

It considers the successes and failures of past policies before it moves on to considering each major challenge in turn in the subsequent sections.

Environmental Sustainability

The current period is described as the Anthropocene as it is shaped by human activity. This section explores global solutions to climate change, environmental threats and the need to meet the water needs of a growing population. Along with providing for direct human needs there is also a need to ensure biodiversity not only for quality of life but to protect the ecological health of the planet.

The Demographic Challenge

This is a fascinating exploration of the dynamics of population growth and the psychology of family size. It also explains how conflict arises when life expectancy is low causing an excess population of under-employed young men without the moderating influence of elders.


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