This book examines the critical themes of employment, growth and development, to focus on challenges and opportunities, both old and new, in the contemporary world economy. The essential theme that runs through the book is that there is a strong relationship not only between employment and growth but also between employment and development, where the causation runs in both directions. The author shows how employment transforms economic growth into meaningful development by providing livelihoods and incomes to people. While the book is primarily concerned with developing countries, it considers industrialized countries as points of reference or comparison, since the latter are a large part of an interdependent world, in which problems faced by the two sets of countries are frequently connected and sometimes common. The ten essays in this volume also provide a macroeconomic analysis of development problems situated in the wider context of a changing world economy, exploring possible solutions, to understand the implications for countries and for people.
A timely collection by an eminent economist, this book will be useful to teachers, students and researchers in economics, especially those interested in macroeconomics, political economy, and development studies.
Decades of research and discussion have shown that the human population growth and our increased consumption of natural resources cannot continue - there are limits to growth. This volume demonstrates how we might modify and revise our economic systems using nature as a model.
The book describes how nature uses three growth forms: biomass, information, and networks, resulting in improved overall ecosystem functioning and co-development. As biomass growth is limited by available resources, nature uses the two other growth forms to achieve higher resource use efficiency. Through a universal application of the three 'R's: reduce, reuse, and recycle, nature thus shows us a way forward towards better solutions. However, our current approach, dominated by short-term economic thinking, inhibits full utilization of the three 'R's and other successful approaches from nature.
Building on ecological principles, the authors present a global model and futures scenario analyses which show that implementation of the proposed changes will lead to a win-win situation. In other words, we can learn from nature how to develop a society that can flourish within the limits to growth with better conditions for prosperity and well-being.
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